Products and services on offer from private banks and private client investment managers still fail to attract most of the target market, according to MDRC's report on the UK high net worth market.
Richard Williams, managing director at MDRC, said: “HNWIs are changing their aspirations and expectations. More HNW individuals are seeking improved investment performance and are questioning the value derived at many wealth managers. Despite the introduction of a wider range of wealth management products, HNW individuals remain largely disappointed with products and services available from the major wealth management firms.” According to Richard Thornton, executive consultant wealth management at Cap Gemini, HNWIs are becoming a lot smarter in their choices of funds and private banks and ...
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