The number of wealthy individuals has reached record levels, but private banks must raise their game to match client expectations

Female clients do not need bespoke products but want a private bank that is willing to listen and offer specific advisory services

Women represent one of the world’s largest banking markets but most banks remain unwilling or unable to service the unique needs of their female customers

Banks must convince clients they can make them money, but not be too brash about it

Asset managers need to innovate and shift from products to solutions, which will require greater engagement with clients

As the dust continues to settle from the financial crisis, private banks are reworking business models to bring them in line with clients’ demands. But how drastic do the changes need to be and what role should technology play?

The mass affluent class is set to be a key battleground for the wealth management industry as banks previously targeting the top tier look further down the ladder while universal banks aim upwards. But will clients benefit?

PWM’s tenth annual sub-advisory research survey finds clients happy for private banks to outsource mandates to third parties, but these relationships need to be nurtured