Cashing in on wealth

When it comes to high net worth individuals, firms would do better investing in their back offices than costly websites

Investment portfolios have taken a knock over the past few years which has led clients to keep a closer eye on their investments. Add to this the pressures of increased regulation, operating costs and global competition and there can be no doubt that wealth managers face a growing need to distinguish themselves in order to survive. The number of high net worth individuals (HNWI) is growing, so wealth managers could be enjoying a boom. However, they are falling down over one powerful myth: the mass affluent customer. Millions of pounds have been spent on self-directed web ventures, aim...