View the article online at http://citywire.co.uk/wealth-manager/article/a728651
Should Barclays’ sub-£500k arm be applauded or abhorred?
by Danielle Levy on Jan 20, 2014 at 10:02
‘If you look at self-service models, people want DIY and the appropriate architecture around their engagement with these organisations. The role of advice becomes diminished. You can see the business model – you get advice through a call centre on a commoditised-basis,’ he said.
He anticipates that Barclays will have already calculated the attrition rate, which is likely to be relatively low.
‘It is just impossible to deliver a bespoke private client service to a large number of clients,’ he said. ‘We need to be brutal about how it is going to work,’ he added.
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