Becoming chief executive of a mid-tier UK firm just weeks before the imposition of a lockdown may not appear at first sight to be the best career move, especially if one listens to the siren voices of wealth management consultants and experts, let alone “thought leaders”.

Nick Tucker, the new chief executive of London-based Waverton Investment Management, thinks otherwise however.

Far from being the equivalent of a brick wall the lockdown is more akin to a reset button. And this could make much of the conventional wisdom about the dynamics and structure of the wealth management industry irrelevant, at least in the U...