Knowledge
UK Private Client Management: The Model is Changing
Date Uploaded: [ 18-02-2007 ] Filesize: [ 178k ]
This Insight provides an overview and forecast for the UK private client and wealth management sector.
The existing models are under challenge from a number of perspectives which is leading to a paradigm shift. Stockmarket decline, reduced income levels and extreme margin pressure within the wealth management organisation are having an effect.
Client disappointment has lead to increased interest and appetite to switch manager or demand more from their existing relationship as clients often do not feel that they have received appropriate advice from their wealth manager.
Alternative solutions to the traditional long-only equity product range are being demanded, to protect wealth.
The cost of doing business has increased, and will rise further, reflecting a growing business complexity whilst legal and regulatory changes are increasing the compliance effort required by managers.
Overall, wealth managers are seeing cost growth outpacing revenue growth and the client base is more demanding and volatile. A new business model is required to succeed in the future environment.
For further information about this Insight, please contact George Kirby, +44 207 398 6000.
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