financial ecommerce research published today Wednesday 7 November 2001 PDF Print Rebecca Gunn, Byline Group direct number: 01628 411 452/ mobile: 07740 620 101 Wednesday, 7th November, 10am - The report, from Byline Research: “High Net Worth: Online Wealth Management” is published today. Please contact me; firstname.lastname@example.org for a full copy of the report (not a huge file and can be emailed). The aim of the survey was to establish what online services investment management companies offer and plan to offer for high net worth private clients. For the purposes of this report high net worth is defined as those with liquid assets of £500,000 and above. Wealth management is defined as the delegated management of savings and investments in which at least part of the relationship between client and institution is conducted online. Executive Summary: Some of the shine may have come off ebusiness but investment management firms that cater to the rich are keeping the faith. So says a survey of 30 UK institutions that provide wealth management services to "high net worth" individuals. 40% already offer a service that goes well beyond a basic website and this figure will nearly double by 2003. These are some of the last institutions you would have expected to get the internet bug because their businesses are all about fostering close relationships with clients. But competition is hotting up, the nature of clients is changing and most private client investment management firms they now have little choice but to use the internet - not to replace private client managers, but to enhance the relationship. Quotes: Commenting on the research, Hettie Hirst, head of wealth management at iE, said: “While the investment managers report that their clients are demanding online services, the research also shows that the same clients are wary. This is not a contradiction but a reflection of the problem that where the Internet is concerned good ideas have often been let down by poor execution.” iE’s Hirst said: “The private client sector is deadly serious about the Internet, but as an additional channel for customer service not as a substitute for personal service and advice, and certainly not as a crude mechanism to cut costs.” This press release was distributed by ResponseSource Press Release Wire on behalf of Patterson Media Services (formerley ByLine Group) in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.