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Independent Wealth Management Forum 2019 HK - Highlights - Tariq Dennison

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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?

What we are going to be seeing over the next decade is a trend towards more and more unbundling. I think what we've seen in wealth management in Asia over the past year was that people would go to their bank for just about everything. They would go there for deposits, checking accounts, investment advice, custody, you name it. Even, in a lot of (cases), insurance. And what we're probably going to see more and more of is we're going to see trends that we've seen in Europe and in North America with independent advice, independent wealth management, much more transparency over what you're paying for what service and what value you get for everything that you're paying for. We've already seen it in many of our other services. We've seen it on our internet services and we're going to be seeing it in wealth management services, as well. So that's the word: unbundling.

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