Mercer moves into wealth management
Mercer, the US-based consultant, has announced a move into the European wealth management sector, providing research, investment strategy and governance advice for the wealth management industry.
Mercer, which has until now positioned itself in institutional investment advice, now offers advice on governance, investment strategy, implementation, portfolio construction and manager research for private banks, family offices, fund platforms and insurance companies. Michael Curtin, head of Mercer’s European wealth management business, said in a press statement: “The destruction in wealth that the credit crisis has wrought on private client portfolios has been extremely painful for all but the most risk averse investors.
"The players in the industry who are most likely to succeed post the financial crisis will re-focus their resources on core strengths and seek expert advice or indeed outsource functions where they do not have a competitive advantage.”
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