The need for private client services is ever increasing. With a greater number of people retiring or investing abroad, greater rates of divorce and ever more complicated family arrangements, many would argue that private client issues are more complex than ever. As private client specialists have become increasingly scarce, the provision of a long-term, stable service to clients, at a cost that is acceptable to them, has become increasingly problematic.
By trying, in the face of the twin pressures of costs and insufficient resources, to maintain a traditional business model for the delivery of a range of services, firms risk alienating their private clients, and perhaps with them the relationships with those clients’ businesses.
