As the wealth management industry continues to evolve and consolidate, there is increasing opportunity for new entrants to disrupt the sector. External asset managers (EAMs), working in partnership with private banks that provide custody services, are at the forefront of industry developments.

The EAM segment is well positioned to expand organically as wealth generation continues, particularly in regions such as APAC and as client awareness of boutique wealth management providers increases. There is a high degree of optimism around this expanding sector, but both EAMs and private bank custodians must adapt to the heightened expectations of end clients as financial literacy continues to advance in growth-oriented emerging markets.

In this paper, we explore how EAMs and private banks are collaborating, and recommend areas of potential change and improvement to win market share from high net worth and ultra-high net worth clients.

Contact Richard Lewis, Partner, or Thomas Woods, Senior Consultant, to find out more.