The millennial generation provides a huge opportunity for those wealth managers able to win their custom, but traditional firms face serious competition from new challengers who are putting digital engagement at the heart of the client experience.

Sustainable investing is a growing trend and some wealth managers have realised embracing it is a way to make themselves stand out

Interest in sustainable and impact investing is soaring, particularly among millennials and women, but the range of products and services on offer in this arena requires further development

Private banks may talk a good game about how they are transforming themselves, but most are really only repackaging existing services. A much more significant change is required, in areas such as ESG investing and in the digital arena, if they are to engage with a new generation of clients

Wealth managers are warming to the idea of hybrid business models, which mix personal advice with digital offerings

Servicing the retail market with high-tech offerings is a huge opportunity for wealth managers, but humans will remain vital in managing client relationships, believes Objectway's Luigi Marciano

Integrated business models which are aligned with client needs are more likely to boost assets under management and wealth manager’s profits

Asian clients are developing increasingly complex needs and demanding more from their wealth managers, making the shortage of experienced relationship managers a growing concern for private banks