Customer demand for wealth management services is predicted to increase to more than $500 billion by 2030 - double the size of the market in 2021, according to a study by consultancy Bain & Company.

The study showed that wealth management, with capital efficiency and recurring revenue streams, has the potential to help any parent company double its market capitalisation, Bain & Company said.

However, the firm noted that realising this potential has become difficu...