Just under half of all wealthy people are set to change their private banking arrangements, as the impact of the credit crisis forces a rethink on the industry.
Just under half of all wealthy people are set to change their private banking arrangements, as the impact of the credit crisis forces a rethink on the industry.
Investors feel let down by banks after they, as taxpayers, were forced to rescue a string of them last year, while a range of products managed or recommended by banks imploded. Individuals are also seeking new advice on tax, following government campaigns against tax havens.
The extent to which banks have lost the trust of their clients is highlighted in research by Dow Jones Wealth Bulletin and independent consultant Bruce Weatherill.
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