The Future of Boutique wealth managers

This report will examine the business model of boutique wealth managers in the UK. It will assess how the business model has evolved since 2004-5, how boutiques are using technology, and profile some boutiques including newer players



Report Highlights
Private banking has long been a preserve of the wealthy. As the financial services landscape has changed, however, so have the needs of these clients. In the past, small private banks have had advantages in their ability to service their customers, due to flexibility and their ability to provide personalized customer service, among other reasons. however, while small banks have historically dominated the upper echelons of private banking, they have been losing ground in recent years as their traditional differentiating features have been assimilated and offered by larger competitors. Despite growing numbers of potential clients for the wealth management industry, these clients are often demanding different services than the traditional boutique wealth managers might offer. However, there is the potential for boutique wealth managers to take the lead through offering a more integrated service.


[Studien Infos ausblenden]

Overview 1
Catalyst 1
Summary 1
Executive Summary 2
Market Context 2
Small private banks have had historic advantages 2
These advantages are slipping away 2
There is a growing shift towards service focus within wealth management 2
The future for boutique private banks is hard to predict 2
Competitive Dynamics 2
The UK has a number of quality small and medium wealth management providers 2
Continental Europe is home to many boutique private banks 2
The USA has developed its boutique wealth management sector into a profitable industry 3
Table of figures 5
Table of tables 6
MARKET CONTEXT 7
Small private banks have had historic advantages 7
Boutique banks provided a unique level of exclusivity 7
Smaller banks offer greater agility 7
Boutique banks pride themselves on personal relationships 7
These advantages are slipping away 7
Globalization makes international reach a necessity 8
The primary challenge facing boutique wealth managers is distribution 8
Society is becoming more egalitarian 8
There is a growing shift towards service focus within wealth management 8
Products are becoming commoditised 9
This is something smaller banks can take advantage of 9
Complexities of new wealth management demands 9
Technology is moving on, but banks must be careful how they attempt to differentiate themselves 9
The future for boutique private banks is hard to predict 10
Difficult to compete effectively against the larger players 10
Possibility of polarisation in the market 10
High level of recent merger activity 11
COMPETITIVE DYNAMICS 12
The UK has a number of quality small and medium wealth management providers 12
Butterfield Private Bank 12
C Hoare & Co 13
Church House 14
Duncan Lawrie 14
Continental Europe is home to many boutique private banks 15
Insinger de Beaufort 15
Hugo Kahn 16
Syz & Co 16
Dominick Company 17
La Roche & Co 17
Rahn & Bodmer 18
Wegelin & Co 18
Berenberg Bank 19
The USA has developed its boutique wealth management sector into a profitable industry 19
Bessemer Trust 19
Glenmede Trust 21
APPENDIX 23
Definitions 23
Private bank: what is considered to be a 'private bank' varies, from comprehensive banking service to core specialist 23
Methodology 23
Further reading 23
Ask the analyst 23
Datamonitor consulting 23
Disclaimer 23

[Inhaltsverzeichnis ausblenden]

Table 1: Bessemer Trust Client Base: Profile 20
Table 2: Bessemer Trust Assets: Profile 21


Bessemer Trust Client Base: Profile 20

[Tabellenverzeichnis ausblenden]