Sixty percent of millennials globally are not happy with their wealth management services, while 56 percent in the UK are unhappy, according to research from pricing specialists Simon-Kucher.

This view is reflected in millennials’ lack of loyalty to a single wealth management provider. On average, each millennial has over three private banking relationships.

“Especially in today’s turbulent market environment, banks need to rethink their offerings to satisfy their future customers,” warned Silvio Struebi, partner and head of banking operations for the APAC region at Simon-Kucher.

The study found three ...