Could firms like the newly formed Vestra be the nicer, kinder and more personalised face of post-recession wealth management.
You are now your bank’s key concern. It seems funny to consider that there was a time when you would not have been: after all, you pay their salaries and fund their borrowings and bail them out. Even so, in the wake of the financial crisis, banks are looking at their clients’ aims and risk profiles with greater interest. It is this desire to provide individual attention which was among the motives of the 50 staff who left UBS last May to join Vestra Wealth (the very name means ‘your’). As David Blanc, an executive partner, says: ‘I saw my clients’ interest going one way and the banks', in general, going the other."