Results Focus - Reimagining growth amid a transitioning world

Wealth Management and Private Banking

16 November 2023

CulturediversitygenerationalGrowthInvestmentsMeeting of MindsWealth Management and Private Banking

Expert: Tom Caddick, Head of Investment, Nedgroup Facilitator: Caroline Burkart, Wealth Management & Client Insight industry expert


  1. Navigating the challenging current environment - The investment industry is facing an unusually difficult period, with high inflation, rising rates and geopolitical issues like the Ukraine war. This requires firms to take a strategic step back and carefully evaluate their direction.
  2. The power of the boutique model - Specialist 'boutique' managers with aligned interests can excel through focus on their specific expertise areas. This contrasts with larger firms trying to be all things to all clients.
  3. Adapting to new generations and demographics - Shifting client preferences and demographics require adapting engagement approaches, like increased use of technology and purpose-driven investing. Firms need to align with evolving attitudes.
  4. Maintaining culture in a hybrid model - Remote and hybrid work makes maintaining strong culture harder. Firms should encourage in-office collaboration while avoiding mandating set days in the office.
  5. Improving workforce diversity - Increasing diversity, especially getting more women in sales roles, requires addressing biases in hiring processes and being flexible in attracting talent.
  6. Staying focused as a leader - Leaders need to remain focused on culture, strategy and people, avoiding distractions from day-to-day tactics.


The discussion covered challenges facing the investment industry like high inflation, rising rates and geopolitics. This requires strategic re-evaluation and focus on differentiation.

Key themes included the power of specialist boutiques, adapting to new client generations/demographics, maintaining culture in hybrid work, improving diversity in hiring, and leaders staying focused on strategy.

Key takeaways:

  • Review your client engagement strategy in light of generational shifts in preferences and channels. Look at increasing use of digital channels and self-service options
  • Analyse your hiring processes to identify and address any areas of bias that may be hindering improving workforce diversity. Be more flexible in attracting talent
  • Create more opportunities for in-office collaboration, innovation and mentoring. Social events, team days, away days etc while avoiding mandating set office days
  • Review your boutique business model. Are there opportunities to further focus specific investment teams on their key areas of expertise and interest?
  • Assess whether you need to take a step back strategically and evaluate our direction in light of the challenging market environment. What are your points of differentiation?
  • Audit how you are spending your time as a leader. Ask whether you are too dragged into tactics versus focused on culture, strategy and people?