Technology has helped private banking to implement efficiencies and cut costs. But it is proving much harder to boost profitability

The end of secrecy-led services led private banks to put portfolio management at the heart of business models. But a new generation of clients is demanding a much broader range of services from their wealth managers 

The digital revolution is impacting all industries, and wealth management is no different. The good news is that many are embracing this new era, despite the many challenges it poses

Many wealthy families are finding it useful to bring in external advisers to help them formulate plans for succession and identify transitional challenges 

Improving the client experience is at the heart of wealth managers’ digital strategies, with a belief that combining cutting edge technology with human expertise will meet their ever more demanding expectations

Fund selectors claim brand is unimportant, with the manager, investment process and anticipated returns all higher on the agenda

The preferred partner model, whereby private banks source their product menu from a small number of asset managers, is gaining traction 

A merger may enable asset managers to cut costs, but the most successful collaborations are those which bring together complementary capabilities