Patrick Wilson’s route into wealth management was unusual: his first calling was as a teacher and author. But when not wading through Second World War history, Wilson became increasingly attracted to financial markets and to the world of private clients.
A stint at RBS’s investment service was his launchpad into the industry: he subsequently joined Credit Suisse’s private banking arm.
Fast-forward ten years and Wilson manages a ‘self-generated’ AuM of £650 million, and is pleased with his ‘strong’ revenue and performance over the past year. The bank’s involvement in aircraft and yacht financing as well as corporate lending marks the practice out. ‘Clients often spend more time and energy on their businesses than their personal finance – to be able to add value on both is hugely [beneficial],’ he says. ‘A relationship manager should be a trusted adviser who understands their clients’ needs, interests and aspirations – this can only come with long-term relationships.’
Wilson also observes that clients want higher efficiency and expect ‘digital private banking’: these new technologies will ‘inevitably change the nature’ of the industry. But this doesn’t mean service levels should be allowed to drop. ‘There is still no substitute for strong relationships, and these can only be forged in person rather than on screen,’ he says.
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