Wealth Management & Private Banking

Connecting with clients and reinventing value proposition

Deloitte has conducted a survey to assess how Wealth Managers and Private Banks in Europe and internationally are re-inventing their client value propositions. In this report, we present a perspective on how value can be created for clients through products and services, channel interaction and pricing.

In the past few years, the Wealth Management and Private Banking industries have changed significantly. The financial crisis has increased investors’ sensitivity to risk, and the current low yield environment has made it more challenging to meet investors’ expectations of returns while limiting risk.

In addition, the pressure for global tax transparency from governments around the world, and in Europe in particular, to crack down on tax evasion and tax fraud, has caused a significant shift from offshore to onshore wealth. The frontiers of demand are also being pushed beyond traditional borders, with emerging market players entering developed markets to follow their clients, and developed market players seeking growth outside of their home markets. This has resulted in either volume losses (e.g. wealth repatriation) and/or decreased revenue margins as fiscal arbitrages have become obsolete and competition for onshore assets has increased.

Connecting with clients and reinventing value proposition
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