Clients are demanding more transparency and customization from their private banking wealth managers, according to a new poll by SEI.
Following the massive Ponzi scheme perpetrated by Bernard Madoff, almost 70% of respondents say their clients want enhanced financial reporting capabilities from their wealth managers. As a result, 87.7% of wealth service firms have made delivering enhanced reporting a top priority. An additional, 41.5% said that their firm intends to invest in client reporting over the next two years.
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