Outlook
Employment for personal financial advisors (including private bankers) is expected to grow by 17 percent (much faster than average) from 2023 to 2033, according to the U.S. Department of Labor. The number of millionaires and billionaires worldwide has increased rapidly in the last three decades. "There will be new and varied opportunities for wealth generation and asset diversification," according to Altrata's World Ultra Wealth Report 2024. "By 2028, we forecast the global ultra wealthy population to total 587,650 individuals, an increase of 161,320 on 2023 and an additional $19 trillion of newly created wealth."
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