The study looked at the online presence of 20 wealth managers, scoring for ease of navigation, quality of content and interactivity.

Out of a possible 100 points, UBS scored 82: 29 for navigation, 27 for content - out of a possible 40 points - and 26 for interactivity. Following UBS were Deutsche Banks and Credit Suisse - with 81 points a piece - while Barclays Wealth came tenth and Citibank took last place.

The rankings accompany a report - How Wealth Managers Win Clients Online - that concluded that wealth manager’s web-presence remained unsatisfactory.

“The content and marketing messages are easily replaceable and the interaction with the potential client leaves much to be desired," said Christian Nolterieke, managing director of MyPrivateBanking.com.

The authors of the report warned wealth managers not to ignore the power of social networking, especially among young up-and-coming high earners.

This comes after a report by consultants Scorpio Partnership and Standard Chartered Private Bank which found that 80 per cent of young entrepreneurs, professionals and business owners did not plan on using a financial advisor to manage their wealth.

“Banks that do not open up to social media and the interactive Internet will soon face negative consequences in the struggle over the younger generation of affluent clients," said Steffen Binder, research director.