The Future of Boutique Wealth Managers

Table of Contents

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