Why Banks are Desperately Targeting High Net Worth Individuals

The wealth management landscape in the City of London is fracturing. Following a major FCA probe, investment manager Rathbones has been forced to freeze inflows for thousands of its most valuable high-net-worth accounts, putting over half a billion pounds of capital in limbo. At the same time, a massive structural shift is happening beneath the surface. As interest rates begin to fall, major banks can no longer rely on standard cash margins. Instead, they are turning aggressively to fee revenue, launching ultra-exclusive premium offices to aggressively woo and lock down wealthy clients. In this clip from Business as Usual, we break down the Rathbones regulatory nightmare and explain why everyone in the City is suddenly fighting for your money. #Rathbones #WealthManagement #CityOfLondon #FCARegulation #PrivateBanking #FinanceNews #ukeconomy 0:00 - The £500m Rathbones Account Freeze 0:54 - Why Wealthy Clients are Moving to Rivals 1:35 - Coots Raises the Bar: The High Net Worth Shift 2:10 - The Death of Interest Rates: Why Banks Want Your Fees 3:15 - Inside HSBC’s Ultra-Exclusive £5m Wealth Office Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: http://www.linkedin.com/company/cityam