1
Wealth management: Reloaded
Two years ago the asset gathering and investment service industry seemed to be on the brink of a possible disruption by new digital players.
The commission pot, that is keeping the banking sector profitable (in many countries in Europe), seemed to be at risk of being attacked by new entrants, promising very lower costs, ease of use and also better returns. Media were covering the phenomenon daily, some very big deals (Blackrock with FutureAdvisor, Schroeder with Nutmeg, …) kept everybody’s attention in the sector. Regulators, too, especially in UK, were very interested in the development of a low cost advisory service for the less wealthy part of the population.