Perhaps unsurprisingly, securing a solid client base and forthcoming regulatory requirements are UK wealth managers’ top concerns going forward, according to a recent survey commissioned by Callataÿ & Wouters, the Belgian financial services technology firm.

With the dust beginning to settle after last year’s unprecedented events, wealth managers are looking to the future, but there is no denying that the financial crisis will have left its mark on the industry. Global markets are recovering, but other worries now prevail: of the 125 UK wealth managers polled for Callataÿ & Wouters’ survey, 69 per cent rated client acquisition and retention along with regulatory requirements as “extremely concerning” factors.

This former finding also comes as no surprise in light of the fact that more than a quarter of high net worth clients withdrew assets from their wealth manager or left the firm altogether in 2008, according to the latest Merrill Lynch Capgemini World Wealth Report. The stunning losses sustained last year would also seem to have taken their toll on investors’ attitudes towards their wealth managers, in that 50 per cent of respondents to the survey said the decrease in investor trust is a challenge.

A large proportion of the participants also highlighted the importance of demonstrably tighter risk management as a means to regain investors’ trust: 58 per cent of those surveyed said that high net worth individuals were more risk averse than before the downturn. Clients are also expecting more from their wealth managers, with 54 per cent of respondents reporting a growing demand for personalised products and services.

The wealth management industry is positioning itself for the future and according to the survey wealth managers are largely in agreement as to the factors which will govern future success. Eighty eight per cent of managers surveyed cited risk management as a key consideration, 84 per cent highlighted cost effectiveness, and a further 72 per cent thought that organisational agility will play a crucial role.