Private Banker International (PBI) * reports on a survey conducted by Scorpio Partnership on behalf of SEI that has highlighted that the disparity between the wealth management industry and their clients when it comes to the issue of transparency. Clients are demanding openness. While the industry believes it operates transparently, their clients strongly disagree.
When asked whether the wealth management industry was transparent, 100% of clients answered “no”, while 100% of wealth managers said “yes”.
According to PBI, the report also identified several themes which clients said should be central to any relationship with an advisor, including:
- transparent fees
- more information about their portfolio
- online access to their account
Our clients benefit from all these today as transparency is at the heart of everything we do. Our model managers put their own money behind their strategies. We show you their overarching strategy and performance alongside their daily activity. We tell you all our fees – upfront and without hidden surprises. And we give you online access to your account so you can view the activity in your own account and how your portfolio is performing.
* Private Banker International (PBI) February 2010 Issue
