Where your money went

Current research regarding the performance of the personal financial services industry is presented. Key findings include: 1. Balances have risen strongly, less because of new products, new markets, and cost reductions than because of asset appreciation. 2. Household assets have shifted out of tradi...

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Bibliographic Details
Published in:The McKinsey quarterly 1998-06, Vol.1 (3), p.166
Main Authors: Devine, Ted T, Flur, Dorlisa K, Mendonca, Lenny T, Parker, Lorelee, Hammarskjold, Alicia B.C
Format: Magazinearticle
Language:English
Subjects:
Capital movements
Competition
Financial services
Financial services industry
Households
Personal finance
Profitability
Profits
Statistical data
Online Access:Get full text
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Summary:Current research regarding the performance of the personal financial services industry is presented. Key findings include: 1. Balances have risen strongly, less because of new products, new markets, and cost reductions than because of asset appreciation. 2. Household assets have shifted out of traditional products at an alarming pace, but the balances remaining in many of these categories are still enormous. 3. Conventional banking products are less popular these days, but still account for the bulk of the industry's profits. 4. Newer products have enjoyed the strongest balance growth, but profits have dwindled.
ISSN:0047-5394