Banks need bigger share of wealth wallet

06-Nov-2015 #Globalwealth Source: Money Management

Low share of wealth management has been a concern for many banks since they are unable to attract the right customers. Some of the factors resulting in this are competition from specialist providers, low awareness of some products’ availability, lack of incentive to consolidate, and the need to spread the risk. Also it has been observed that there is lack of loyalty to major banking groups.

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