Core Insights - Trust in and engagement with financial advisors has reached a new high among affluent investors, defined as those with at least $100,000 in investable assets [1] - Wealth management firms have a critical opportunity to differentiate and drive growth by fostering trust and leveraging digital tools alongside human-centric advice [2] Affluent Investor Landscape - 42% of affluent investors reported having a traditional financial advisor, a 300-basis-point increase from the previous year [2] - Reliance on financial advisors is highest among first-wave baby boomers at 48% and Gen Z at 46%, while Gen X reported the lowest at 38% [2] Robo Advisor Usage - 20% of all investors reported using robo advisors, a 500-basis-point increase compared to the previous year [3] - Over half of Gen Z affluent investors (55%) are using robo advisors, up from 33% a year ago; 42% of millennials and 24% of Gen X investors also utilize robo advisors [3] Asset-Based Robo Advisor Reliance - Reliance on robo advisors is highest among investors with $100,000 to $500,000 in assets at 22%, compared to 18% for those with over $500,000 [4] - New robo advisor platforms, such as Robinhood's for investors with over $100,000 and Wealthsimple's entry into the U.S. market, indicate growing competition in this space [4] Self-Directed Investors - 34% of affluent investors reported being "self-directed," with the highest share among Gen Z and the silent generation at 36% [5] Trust Levels - Trust in the financial investment community is highest among those working with traditional financial advisors at 73%, an increase from 64% in 2023 [6] - Among self-directed investors, only 50% reported having trust in the financial investment community [6]

Core Viewpoint - Banco Santander has announced the merger of Openbank and Santander Consumer Finance into a single legal entity under the Openbank brand, aiming to streamline its European consumer finance operations, starting with Germany [1][5]. Group 1: Merger Details - The merger is intended to simplify operations and provide competitive financing solutions for partners such as auto manufacturers, dealers, and merchants [2]. - Openbank is Santander's flagship brand for digital-first consumer banking, which will carry the endorsement "by Santander" to emphasize its global banking association [2]. - The merger will allow customers of both Openbank and SCF to access a comprehensive range of offerings through a unified digital platform, providing a single entry point for banking, lending, and payment solutions [4]. Group 2: Operational Scope - Santander Consumer Finance operates in 18 countries with a loan volume exceeding €140 billion, supporting around 16,000 new customers daily across Europe [3]. - Openbank currently operates in Spain, Germany, Portugal, the Netherlands, and has expanded to the US and Mexico [2]. - The combined management of Openbank and SCF has established partnerships with major retailers such as Apple, Amazon, and Vodafone [3]. Group 3: Service Offerings - Openbank provides various services, including an automated investment service known as Robo Advisor, which uses AI tools to offer target prices for European and US stocks [4]. - Openbank has recently introduced a cryptocurrency trading service, further diversifying its offerings [5]. Group 4: Strategic Initiatives - Santander is advancing its commitment to a data and AI-centric approach through collaboration with OpenAI, aiming to position itself as an "AI-native" bank [6].