Gareth Wilson
speaker
153 appearances
1 recordings
1 series
first heard Jun 2026
last heard 10 Jun
Gareth Wilson’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.
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When we look at that figure now in 2025, that's reduced to 19%.
So my point is, Maren, individuals are looking towards multiple organizations to provide access to the products and services they need.
The counter-argument to that, I would say, is that if you can provide the full breadth of products and services that's required under a single umbrella, then I think you can maximize the strength and, quite frankly, the stickiness of that relationship.
I think this shift represents that demand from clients for...
a greater personalised relationship with empathy, and also a greater access to products and services, because no one firm has been providing that.
And we've also seen, Merrin, to your point, we've seen the advent of the robo-advisors.
We've seen growth in that kind of digital-only model.
At the other end of the scale, we've seen growth in terms of the family offices.
So again, if you look at the traditional wealth management organisations,
There's competition from family offices, there's competition from the kind of robo-advisors.
And in the model where they're not able to deliver the experience or the products and services that's required, that's meaning assets are flowing away from the traditional wealth management firms to the competition.
And again, in our report, we quantify that as something like 1.5 trillion.
of new assets that have moved into that competitive sphere.
So there's an opportunity, but obviously there's clearly a threat as well.
It is.
But again, you've got to look at this at an individual basis, because again, when we look at those ultra high net worth individuals with investable assets of greater than 30 million, the role of the family office, not just the financial services that they're bringing, Maren, but some of those non-financial services around estate planning, inheritance likewise becomes increasingly important.
When we look at products and services, of course, we can talk about asset types.
We can talk about crypto.
We can talk about alternatives.
But I also think there's a role for the wealth management firms here to bring those broader services to bear, again, in a way that's directly relevant to their clients.
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