MyPrivateBanking Blog
Daily Comments on the World of Wealth Management

Posts Tagged ‘wealth managers’

Mobile Apps for Advisors - our new report in the media

Wednesday, April 3rd, 2013

Here is a sample of the most recent media articles that are quoting our latest report “Mobile Apps for Financial Advisors and Wealth Managers 2013“:

Banking Technology

Wealth Briefing (log-in required)

Mobile Business (German edition)

CIO (German edition)

 

Labor Unions and Wealth Managers Team Up

Thursday, January 20th, 2011

The German minister for consumer protection has announced to send under cover investigators to banks’  wealth advisors to check whether their advice is following the rules and to identify possible weak spots. This latest government measure to protect consumers comes after repeated reports of banks who are  often pushing products with heavy commissions (kick-backs) into the portfolios of their private clients.

All this has lead now to a coalition between wealth managers and the biggest German service employees union. According to reports by the SPIEGEL the union has already collected 60′000 signatures against the new measure to protect bank clients. The report is here (German only).

I think this is great: greedy bankers and leftist unions unite to keep exploiting the consumer. If only Karl Marx knew about this, he would roll over in his grave…

 

Reckless Negligence

Monday, March 8th, 2010

Last week we published a report about the privacy risks of Private Banking and Wealth Management websites. The bottom line was that almost two thirds of websites offering online communication through contact forms or email did not care to take even the most basic precautions in order to protect user privacy.

secure-contact-form

In the light of the recent data thefts affecting mostly European Wealth Managers we find this reckless and negligent. To be fair, there are many cases of banks with role model websites offering all sorts of preacautions and warnings for their users. Yet, it is still deeply unsettling that about 60% of  the analyzed banks across 17 markets have no clue or do not care about privacy. Especially since we are not talking about auto dealerships or mon-and-pap-grocery-stores. We are talking about an industry whose fate rests on a claim of trustworthiness and confidentiality. There is only one thing to do for the affected banks: Realize that you have arrived in the 21st century - a time where online conversations have become as normal as telephone or letter communication and should be protected accordingly.

 
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