Preece says technology has also served to mean individuals can have low-cost portfolios and trade using apps, which both serves to heap cost pressure on wealth managers, but also to mean the investors with small pots of assets have a new, alternative, route to building up a pot of assets.
But Wilson says that technological advances can also help incumbent wealth management companies solve the small pots problem.
He says: “I think there can be cost efficiencies that will help firms work with a broader range of clients.”
David Thorpe is special projects editor of FTAdviser
Page 3 of 3
