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Clients lost a lot in the recession: returns, risk tolerance and confidence. Now in a rebuilding phase, wealth managers that understand their clients' demands and motivations are in the best position to profit. Datamonitor' s analysis provides the data and insight to monitor competitors' strategies, size their potential customer base, and understand their needs.
The Financial Services Authority (FSA), is being dismantled, with control of macro-prudential regulation handed over to the Bank of England. The most significant legislation for wealth managers is the upcoming implementation of the Retail Distribution Review. The ICB report also has implications for wealth managers.
According to Datamonitor' s Global Wealth Managers Survey 2011, the typical UK HNW individual amassed their wealth through earned income and allocates the largest proportion of the investment portfolio into equities and fixed income. UK HNWs are loyal to their wealth manager and demand face-to-face contact.
The UK wealth management market includes some of the most prestigious and recognized financial institutions in the world. Asset-management led institutions play a key role in the market. Profiled competitors include Brewin Dolphin, Coutts & Co, Kleinwort Benson, RBC Wealth Management and Vestra Wealth
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