SEI WP managing director of UK private banking, Brett Williams said: “Our latest research provides a snapshot of the challenges and opportunities facing wealth managers in 2017 and beyond.
“Firms are responding to the impact of change in different ways, and it is clear that many have important decisions to make when seeking to balance their business priorities in the months and years ahead.
“Client expectations have evolved and increased so significantly, that firms need to adapt their business models in order to meet them, while at the same time keeping costs down and seizing opportunities for growth.
“If firms are able to control their cost bases, deliver high-quality products and services, and do so as efficiently as possible, then they have a fighting chance of sustaining a profitable business in an ever-changing environment.”
