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Third Senior Executives Forum

Size Matters!

It wasn’t always the case in the Private Wealth industry, with a myriad of boutiques flourishing for centuries and until very recently. In the UK market, where private banks don’t dominate the sector, it was even more diverse and fragmented – featuring assorted players with broker roots, and a thriving ecosystem of intermediaries. Increasing regulation, low interests and pricing pressures seem to have put an end to this happy coexistence and «scale» has become the keyword of the day – along with the belief (not entirely unfounded) that scale is the key to dwindling shareholder value. Consolidation (the other keyword you won’t stop hearing for a while) is everywhere in the sector and only seems to accelerate.

M&A activities take many shapes and flavours, from the joining of operating equals for size, to expanding the value chain into the distribution channel or the client base into the long tail of mass-affluent population, no longer the exclusive domain of retail financial services. There are also examples of consolidation in the enabling ecosphere of technology vendors and service providers, as well as cross-consolidation between institutions and such providers.

Synpulse has its finger on the pulse of the sector, the experience in servicing it for over 20 years, and the specific expertise to facilitate consolidation initiatives. To promote discourse on the broad topic of Wealth Management Consolidation, we held our 3rd Executive Forum in September 2017 focusing on this topic.

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