Schroders Capital’s Georg Wunderlin believes high turnover among private bank relationship managers can be a barrier to their wealthy clients allocating more to private markets.
The UK asset manager’s global private markets head also sees difficulties in getting banks’ discretionary mandates to invest in private markets strategies as another hurdle to adoption.
Alternatives managers have been piling into the wealth space in recent years as institutional clients have increasingly maxed out their allocations to illiquids.