Private banking: The ins and outs of open architecture
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Private banking: The ins and outs of open architecture

Offering third-party products proved no panacea in the financial crisis, yet clients still distrust an exclusively in-house approach. As the focus returns to increasing revenues, private banks are rethinking their models. Helen Avery reports.

AN OPEN ARCHITECTURE approach, with private bankers agnostic as to which bank’s products they use for their clients, so long as they are the best products, always seemed more of a marketing ploy than strict reality. High-net-worth clients wanted to believe that their private bank was not steering them deliberately into in-house products to make money for the overall firm, and private banks touted open architecture platforms to assuage their fears.

Now, though, the question of open architecture is up for debate.

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