Summary
The eighteenth Meeting of Minds Wealth Management & Private Banking took place on 19 November 2015 at The Berkeley Hotel, London. This document summarises key issues raised in the topics discussed during the roundtables that took place on the day. A Meeting of Minds Wealth Management & Private Banking is a strategic forum organised by Owen James. It is an opportunity for 100 strategic and investment decision makers from the leading private banks; wealth managers, DFMs; MFOs; service and product providers to work through the key
challenges facing both their businesses and the industry as a whole with a view to driving change forward. Participants enjoy access to strategic insight, active involvement in shaping the industry and networking at the highest level. At the core of these Meetings is a series of boardroom style sessions addressing a pre-researched and pre-agreed agenda, with open discussion led by objective and professional moderators. External speakers spark debate and encourage fresh and original thinking.
To find out more about taking part, please contact: Simon Black at Owen James: simonblack@owenjamesgroup.com or you can contact him at 01483 861 334.
This Report
The Roundtable Sessions were moderated by Scorpio Partnerships:
- • Sebastian Dovey
- • Catherine Tillotson
- • Caroline Burkart
- • Mark Miles
- • Alex Johnson
- • Annie Catchpole
- • Glen Ward
We are very grateful for the time and energy they have expended on making A Meeting of Minds
Wealth Management & Private Banking a success and hope you will consider this report an
interesting, thought-provoking and accessible read. As ever your feedback is much appreciated.
We would also like to thank the independent experts who were part of the sessions for sharing
their knowledge and giving us their time and energy both in the run up and on the day.
The Sponsors
We would like to thank all our sponsors, without whom the event would not have been possible.
The following groups took part in the Meeting and their motivation for taking part is threefold:
• To be, and to be seen as being, supportive of the industry;
• To understand the stresses and strains being placed on the industry and, where possible,
respond to them; and
• To talk openly with these business leaders with a view to ensuring that their businesses are
strategically aligned.
The Findings
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Enhancing your value proposition and growing revenues by augmenting client engagement
Even before Covid there were tremendous cost income pressures – we have barely touched the tip of the iceberg of some of the likely influences that will enhance these pressures – Mifid II increased transparency for fees, and we haven’t even seen the full outcome of that yet. As an industry – despite what we say about brand and client service, we have a problem with lack of differentiation – are products innovative? In many cases, they are par for the course. Some firms have been stagnant in terms of organic growth – the response to the Owen James scene-setter survey shows firms are concerned about client acquisition as one of the key focus areas. And now in the Covid world, nothing has fundamentally changed – yes, we have got a little better with some digital engagement with clients, and some implementations have accelerated, but the needs of firms and clients have not changed.
10 September 2020
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M&A -The Outlook
MA - The Outlook. A consideration of the opportunities and activity during and following the pandemic
10 September 2020
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Supersonic Digital Masterclass - How did your company fare?
This session gave some perspectives on the impact of recent events on how the wealth management industry are addressing digital challenges based upon the insight on Accenture’s clients’ experiences and a survey of around 50 European and Asian Private Banks and wealth managers. The discussion was split into three areas: 1. Impact of recent events 2. Evolution into this new world – “Post” Covid 3. Potential winning moves to 2025
10 September 2020
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Work, as both a place and an activity, has changed
Work, as both a place and an activity, has changed. What does the future look like? Is it now about the work-life blend rather than balance?
10 September 2020
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A thought-provoking look at some of the evolving big investment themes of the future.
A thought-provoking look at some of the evolving big investment themes of the future. Lazards share some of their thinking.
10 September 2020