Independent Wealth Management Forum 2019 HK - Highlights - Jessica Cutrera

Jessica Cutrera of Leo Wealth

Oct 28, 2019

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1. What are the opportunities and challenges for this industry?

Video transcript

1. What are the opportunities and challenges for this industry?

So, opportunities for the industry: growth in the industry itself; the business model is more familiar, and more clients are choosing independents. That makes it easier for (firms) to grab a stake in the marketplace and attract clients. Certainly, shifts in banking and the regulatory framework, I think, also gives opportunities for independent asset managers and collaboration with firms, including increased custodians, increased service providers. All of these are going to help independence be more successful. Challenges, certainly changing regulatory framework, cost of compliance, cost of client acquisition, in terms of onboarding an AML, and there's more competition; there are more independent asset management firms in the market that people are competing with.

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