Disintermediation and disruption, fee compression, and the return to a lower return environment are the key challenges currently facing the UK wealth management industry, Patrick Lance, a wealth director at 1762 from Brewin Dolphin told the audience at the fourth annual eprivateclient Accountancy Dinner last week (1 October).

Starting with disintermediation and disruption, Mr Lance explained that it is not a new issue and certainly not unique to the wealth management industry.

In the sector, “cheap, online, self-directed investment platforms have been with us for many years and are definitel...