However, Investment Quorom CEO Lee Robertson doesn’t think Santander Private poses much threat to other wealth managers.
At present, not much is known about the fee structure, he pointed out, adding that the new service was something that is likely to appeal to the bank’s existing high net worth clientele.
“We’ve seen this sort of thing before,” said Robertson.
“This sort of thing doesn’t typically touch on the high-end discretionary managers, if history is to be repeated.
“It’s not something I’m particularly stressed about it,” he admitted.
