New report examines the major challenges banks face in growing their private client business and highlights innovative strategies

In the low interest-rate environment of recent years, bank private client business of groups have been under extra pressure to deliver growth while facing increasing competition from more nimble registered investment advisors (RIAs), traditional full-service brokerages, and the large online brokerages. In a new Impact Report, Waking the Giant: How Bank Wealth Managers Can Address the Challenges to Growth, research and advisory firm Aite-Novarica Group examines the major challenges banks face in growing their private client business and highlights strategies that innovative firms are employing to address these challenges.

“By and large, the private client groups within banks have not been able to deliver the growth demanded of them,” said William Whitt, Strategic Advisor at Aite-Novarica Group and author of the new report. “To meet the growth expectations their parent banks have placed on them, bank private client groups will need to build more effective partnerships with other bank divisions, take steps to reinvigorate their sales culture, and evolve their advisory value proposition for today’s high-net-worth clients.”

A preview of the report is available online, and desk copies are available to qualified media. Please contact [email protected] or call Kaitlyn Labbe at +1.857.327.9442 for more information.

About Aite-Novarica Group:
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.

Press Contact:
Kaitlyn Labbe
Public Relations
+1.857.327.9442
[email protected]