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UK wealth management at a ‘crossroads’

Wealth managers will need to outsource and make acquisitions if they want to survive, according to a report by SEI based on interviews with C-suite executives at wealth firms.

The report found that firms are struggling to stand out as competition intensifies with legislation leading to complex client needs.

It warned that failing to invest in technology will pose a major threat to wealth managers in a ‘robo-advice world’.

The report concluded that wealth managers are facing mounting pressure to provide a distinct proposition as they all vie for the same pot of money.

Source: Citywire

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