What are the main challenges faced by the wealth management industry after the 2008 financial crisis as discussed in the chapter?

The wealth management industry faces several challenges post-2008 financial crisis, including modest growth in global high net worth individuals, increased fee pressures, volatile markets, and stricter regulatory requirements. These factors have collectively strained traditional wealth management models and led to a decline in business valuations.

After the 2008 financial crisis, the wealth management industry has had to adapt to changing market conditions and heightened customer demands. There has been modest growth in the number of high net worth individuals, alongside increased pressures on fees and market volatility, which contributed to a significant decline in business valuations. Additionally, stricter regulatory requirements have necessitated a greater focus on risk and compliance, further straining traditional wealth management practices.