The value(s) of wealth. Taking wealth management to a new level.

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The value(s) of wealth. Taking wealth management to a new level.

Seb Dovey. Meeting of Minds. London, 5th June 2014

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  • Good morning everyone,
    I hope you’re all well ahead of what promises to be another packed day. For those of you joining us for the first time, my name is Sebastian Dovey, along with my business partner Cath we created Scorpio Partnership over 10 years ago to provide strategic support and consultancy advice to the wealth management sector. Every year, we conduct dozens of projects for private banks, wealth managers, technology providers, insurers, family offices and plenty more besides with the aim of assisting the industry provide the services and the businesses which HNW and UHNW individuals wish to use. As such we conduct mounds of quantitative and qualitative work into understanding your clients. Today I want to talk a little bit about some of the latest research we’ve been conducting into both the industry and the trends around mergers and acquisitions since we spoke about it last year, as well as an insight into the client mind.
  • The value(s) of wealth. Taking wealth management to a new level.

    1. 1. © Scorpio Partnership 2014 | Meeting of Minds London – June 2014 1 The value(s) of wealth Taking wealth management to a new level Meeting of Minds LONDON 5th June, 2014
    2. 2. © Scorpio Partnership 2014 | Meeting of Minds London – June 2014 2 18% 4% 6% 30% 10% 7% 6% 4% 22% 6% 6% 29% 15% 10% 10% 8% 24% 9% 12% 35% 16% 11% 11% 8% 0%10%20%30%40%50% It is easier to understand the fees I pay for financial advice, products and services It is easier to compare fees between different financial providers I have extended the range of financial products in my portfolio Access to good financial advice has improved I have a clearer understanding of the type of services provided by different kinds of financial providers Financial advisory firms are keener to have me as a client I have not considered changing or starting a new relationship with a financial adviser I believe financial advice is less expensive I believe financial advice is more expensive I have considered changing or starting a new relationship with a financial adviser It is harder to understand the fees I pay for financial advice, products and services It is harder to compare fees between different financial providers I have consolidated the range of products in my portfolio Access to good financial advice has become worse I am more confused about the type of services provided by different kinds of financial providers Financial advisory firms are less keen to have me as a client Fee transparency Fee comparison Cost Range of products used Changing provider Advice My understanding Valued client 33% 38% 33% 6% 7% 15% 24% 18% 28% 44% 41% 11% 15% 22% 29% 29% 28% 42% 37% 11% 18% 29% 34% 29% 0% 10% 20% 30% 40% 50% The changing tectonic plates of RDR £0.5m-£5mv £5m+<£0.5m Q: Which of the following statements most closely reflects your experience of financial services since the start of 2013? Note: based on a survey of 1,000 private client investors with an average wealth of GBP6.7 million across 12 UK regions Source: Scorpio Partnership, Pershing

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