As we enter the mid-2020s, the plan of how successful wealth managers will interact with their clients is becoming sharper. Key concerns around stability are increasingly interlinked with geopolitics and related issues of reputational risk and branding.
The concept of ‘de-risking’ client books is not new, gathering momentum over the past decade. But it recently hit the headlines when populist politician Nigel Farage was “offloaded” by Coutts, a UK private bank linked with the royal family and orientating itself to onboard more clients from minorities, including LGBT+ customers. This led to the resignation of two of the firm’s leaders, following government pressure.
