Asian Wealth Solutions Forum 2019 - Exclusive Insights - Mark Smallwood

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1. Are banks able to attract clients to fee-based advisory mandates?

Video transcript

1. Are banks able to attract clients to fee-based advisory mandates?

In Asia, generally speaking, it's still very much a transactional relationship with private clients through the private banking platforms. Whilst there's been a big emphasis on introducing discretionary portfolio management mandates to the clients, I think it's going to become essential for the private banks to deliver fee-based wealth advisory mandates, which incorporate a sort of wrapped fee basis. And this will provide the sort of transparency that's needed in the new environment and will allow the wealth manager or the relationship manager to generate a more, sort of, steady flow of revenue from the client whilst providing it in a transparent manner and maintaining a long-term relationship with that client.

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