This article appears courtesy of Global Investor.
THE OLD adage of “you do best what you best like to do” is particularly apt for wealth management. This market segment is seen as one of the most attractive, with wealth managers expecting higher revenues and profits. But some managers show clear areas of weakness, particularly in client relationship management and risk management.
A recent report from PriceWaterhouseCoopers, Global Private Banking/Wealth Management 2005, suggested that wealth managers should focus on their areas of strength, while outsourcing more in specialist investment and advisory areas.
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