Leading Odgers Berndtson’s asset and wealth management work, partner Richard Ker says: ‘It is generally speaking a tough environment for wealth managers, given the increased cost of doing business coupled with a downward trend in fee income’. Regulatory pressure has contributed to the challenging conditions, with hiring activity in the last 12-18 months focusing on non-front office functions such as risk, compliance and operations. ‘Consolidation in the industry is another key trend to consider as is the threat from disruptive fintech organisations,’ Ker says. He suggests ‘the future emphasis for careers in London may centre on candidates with strong credentials in business development, financial planning advice and lending’.
Wealth Management Recruitment Consultants