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Global wealth closed in on its precise peak in 2009, driven by resurgent stock 'markets. But recovery, as dynamic as it was, did not translate into stranger performance for the industry - many wealth-management institutions continued to face declining revenues and stubbornly high costs. Even as the financial crisis recedes and clients regain some of their appetite for risk, the underlying drivers of weakened revenues and profitability are likely to persist. Wealth managers must not allow the surge of global wealth to lead to a sense of complacency or a lack of urgency when it conies to addressing these challenges.
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