SEI’s Dublin operation has experienced significant growth over the last five years, increasing more than 125% in headcount.

The office is now SEI’s largest in Europe with more than 400 employees servicing its European clients and 9 out of its top-10 global clients as part of SEI’s client-centric operating model.

Located in the heart of Dublin at One Charlemont Square, the office space was co-designed by the architect and SEI’s employees. The office incorporates the latest in hybrid meeting technology with flexible meeting spaces and allows teams on the same floor to work cross-functionally, enabling collaboration and accessibility across all colleagues.

Bryan Astheimer, head of SEI’s investment managers business for EMEA, said: “SEI sits at the intersection of technology, operations, and asset management. Our clients and their investors have benefitted from our solutions for more than 55 years—with nearly 30 of those years in Europe. As asset managers’ needs increasingly become more complex, not only can we solve their challenges with our operational strength and sophisticated solutions, but our world-class talent also provides premier client service.

“We’re thrilled IDA Ireland have supported us with the opening of our new office space in Dublin. Our new footprint is inspired by our employees and fosters a collaborative environment that enables us to continue nurturing our culture and enhancing the client and employee experience.”

Minister Neale Richmond, minister of financial services, added: “SEI have been contributing to Ireland’s financial services sector for many years now, and their commitment to Ireland has been hugely appreciated. I want to congratulate SEI on the opening of their new office space, now their largest in Europe, and wish them all the best on their future in Ireland.”

Michael Lohan, CEO of IDA Ireland, said: “Since opening their first Dublin office in 1995, SEI has contributed to Ireland’s success and growth, and their continued investment in Dublin bolsters our country’s position as a significant financial and economic hub. We wish them continued success with their contributions to the national and global financial sector.”

But despite some embracing AI, there is still some scepticism about the future of tech.

A recent survey by Schroders found that nearly half (43%) of advisers see AI as a threat to their business.

International Adviser spoke with Bravura, Dimensional Fund Advisors, Dynamic Planner, GSB Capital, HSBC Private Banking UK, Intelliflo, JustFA, SG Kleinwort Hambros, The Openwork Partnership, SEI, Shard Capital and St James’s Place for their views on AI as a potential threat and whether advisers should be using it in their business.

‘Unrivalled productivity gains’

“Here’s what ChatGPT had to say….,” said Andrew Dixon, head of wealth planning at SG Kleinwort Hambros, who sought out the views of AI itself on the subject. ChatGPT responded that a combination of artificial and human intelligence could be the future of financial advice.

Chat GPT said: “AI can be both a tool and a potential disruptor for financial advisers. While AI can assist advisers in analysing data, automating tasks and providing insights, it could also pose a competitive threat if it becomes sophisticated enough to replace certain aspects of the advisory role.

“However, human expertise, emotional intelligence and personalised advice are still highly valued by many clients, so a collaborative approach between AI and human advisers is more likely to emerge in the future.”

Dixon added: “I wouldn’t disagree with this statement. As high net worth advisers we do not know where this will go in the long term but in the medium term, AI offers unrivalled productivity gains”.

‘Providing holistic advice is a complex task’

Richard Wake, chief customer officer at Intelliflo, also highlighted the advantage that advisers can bring, in comparison with AI.

“There’s no doubt that AI will significantly impact the financial services industry, particularly in areas related to automation, machine learning and the use of large language models like ChatGPT,” he said. “Having said that, it’s important to acknowledge that providing holistic advice is a complex task that requires an in-depth understanding of each client, often established through personalised Q&A sessions and relationship building.

“While AI can support certain aspects, it’s difficult to envisage that being delivered by ChatGPT, unless it’s at the robo end of the market, regulatory constraints notwithstanding.”

‘An opportunity to better anticipate what clients want’

James Thomson, head of investment counselling, HSBC Private Banking UK, said that AI is not a threat but an opportunity.

He said: “We don’t agree that AI itself represents a threat to our business, at least with regard to computers taking relationship managers’ or investment advisers’ jobs. What we know is that most clients prefer to engage digitally with us for non-value adding services such as reporting, accessing research and product updates or self-directed trading.

“But clients still overwhelmingly want to engage with advisers for personalised advice and other value-adding services. The biggest risk is that we don’t adapt to the new opportunities that this technology provides as quickly as our competitors and that we therefore get left behind.

“AI represents an opportunity to better anticipate what our clients want, better understand what they want to hear from us about and enable us to provide clients with well-targeted investment advice. The winners from this technology will ultimately be those firms that use AI to enable their advisers to do these things better than anyone else.”

‘No substitute for the ‘human touch’

David Jones, head of UK and Ireland advisor group at Dimensional Fund Advisors, also views AI as a positive development.

“We’re with the majority of advisers who see AI as an opportunity, rather than a threat,” he said. “AI has the potential to make advisers’ lives easier and improve clients’ experiences.

“AI is a tool like any other in that you have to evaluate whether it does the job you want before you use it. For many advisers, there are a lot of tasks within their business that AI will be well suited to – like taking notes and making appointments. In these areas there is the potential for AI tools to make advisers’ and clients’ lives easier.

“There will also be parts of their business where there is no substitute for the ‘human touch’. And the best advisers know that the real value they offer their clients is more than the sum of the services they deliver. So, if an adviser feels genuinely threatened by AI, maybe they should take a good look at their proposition and ask themselves whether there is more they could do to raise their game.”

‘AI does not meet all client needs’

Louis Williams, head of psychology & behavioural insights at Dynamic Planner, said that although AI is no substitute for advisers’ ability to empathise, it has its advantages.

“AI is not a threat to the adviser-client relationship,” Williams said. “It provides a different offering but one that currently does not meet all client needs, such as providing reassurance and guidance during difficult times. AI is not emotionally intelligent enough to empathise with clients and understand their complex emotions.

“Despite this, advice firms should consider how AI is being used by their competitors: use of AI may become a threat as firms begin to adopt a collaborative approach, using AI to increase productivity and efficiency.

“AI can be used to reduce costs and increase productivity and provide assistance with writing reports; managing client data; generating behavioural and data insights; increasing engagement; tailoring content and communications; and increasing clients’ financial literacy and wellbeing through educational resources. AI may also provide opportunities for firms to support those clients with less wealth, who require less complex services.”

Williams also highlighted some disadvantages of AI, which could become problematic in the advice sector.

He added: “While we should embrace AI and use technology within our industry, we should not become solely dependent on AI. The adviser-client relationship is irreplaceable and AI algorithms can be heavily biased, using stereotypes to make inferences and provide solutions. When adopting AI, it is important to ensure that scientific approaches continue to be used, considering individual needs and objectives to create suitable recommendations.”

While he acknowledged the benefits that AI can bring, Just FA business development manager John Driscoll also pointed to the importance of client preferences.

Driscoll said: “AI can have a place in the financial planning space in terms of creating efficiencies and more sophisticated financial plans. However, it it still ultimately the personal relationship, reassurance and financial coaching from a human financial planner that clients seek and value the most. We don’t believe that this will change.

“There is a great deal of general wariness regarding AI and we believe that this will be particularly relevant when clients are trusting someone with something as important as their financial planning.”

‘Embrace it now, in the right way’

Setul Mehta, head of adviser services & business development at The Openwork Partnership, believes how advisers use AI is key.

He said: “AI in the advice space is still at its infancy compared to what it will be like in a decade, therefore, we have to be careful and curious about AI in the advice market but certainly not fearful. For the advice space, AI will be at its most powerful when integrated with adviser processes, not as a replacement for advisers, which is why embracing it now in the right way is important.

“To give an example of how it could work in protection, if a client has underlying medical disclosures, then AI can start to make stronger calls on which cases to put on risk without the need for substantial levels of underwriting, which then reduces GP/insurer workloads.

“Advisers can also use AI as part of ongoing wealth servicing. It ‘knows’ when it’s a client’s birthday and can facilitate sending a text or birthday card. AI also knows how many times a client is looking at their platform accounts and can determine if a client is worried and trigger intervention.

“In the mortgage space, imagine AI being able to tell you when it might be right for a client to pay an early repayment charge and take up a new deal rather than just wait for the end of a standard-deal term, which is generally what happens now.

“There are lots of possibilities for AI to support and facilitate greater client support and engagement, but understanding EQ and behaviour is in its initial stages. Also, AI doesn’t have strong levels of governance built in around its uses within the advice space – this is something to watch out for. AI is here and will not be disappearing. It is important to harness it for what it is now, but to be realistic about its uses.”

‘It’s essential not to blindly trust it’

Ernst Knacke, head of research at Shard Capital, warned about the pitfalls of AI.

He said: “The rapid development of AI has brought a surge of excitement, uncertainty and questions across various industries, especially investment management and financial advice. The emergence of large language models like ChatGPT introduces potential disruptions to traditional knowledge-based work and business models, presenting both risks and opportunities within the financial-advice sector.

“While AI arguably holds promise to improve client outcomes, risk management and asset allocation, it is crucial that investment managers and advisers do not rely solely on AI-generated advice. Despite the promise, these models often produce incorrect information or misinformation.

“AI models are influenced by the dataset they were trained on, just like children are influenced by the traditions of their parents. At this stage, it’s essential for advisers and investors not to blindly trust it. Acknowledging the limitations of AI is perhaps the first step in harnessing its potential while avoiding potential pitfalls.

“That said, we believe there are two potential mistakes that advisers can make in the current landscape: relying solely on AI for providing advice to clients, without exercising human judgment and doing their own research and analysis; and assuming that AI technology will not disrupt their business and ignoring its potential impact on their practices.

“Eventually, AI will be used as a tool in the investment framework, which should lead to better client outcomes and more effective risk management. It might even give advice without any human intervention. But we are a long way away from that.

“In the coming years, most advisers should look into where AI can be used – for instance, where it might replace mundane tasks, or improve efficiency in their overall investment proposition. As AI continues to evolve, this internal review should perhaps be an evolving process in itself.

“What is clear is that the time to start and conduct thorough research and gather evidence of how to incorporate AI, is today.

“We believe the benefits will be twofold − better client outcomes and increased profitability. “The increased profitability should result in further fee compression. It’s a win-win for clients in the long term. However, achieving these improvements will take time and might even reduce adviser profitability in the short term. But what is undeniable, is that the advice industry is entering an era of change.

“While AI presents opportunities for improvement and growth, it is essential to approach it with conviction in its essence, but scepticism in its quality. By adopting a first-principles and R&D-based approach, financial advisers and investors can effectively navigate the evolving landscape and use AI to their advantage in the near future, while maintaining a focus on delivering value and making well-informed decisions today.”

‘Huge potential’

Change due to the emergence of AI is inevitable, observed Jonathan Hawkins, principal consultant at Bravura.

Hawkins said: “AI has huge potential to improve the UK’s advice market. As the tech continues to evolve, advisers will start to see more AI-based applications and microservices creeping into their day-to-day interactions with clients to help create efficiencies and automate standardised processes.

“We’re not quite there yet, but eventually AI will fundamentally alter the way advisers work and interact with clients. This shouldn’t, however, be viewed as a threat. In most cases, AI will enable advisers to spend more time focusing on their clients’ ambitions and growing their business, rather than basic admin tasks, which are only increasing in tandem with the regulatory burden.

“One of the great things about AI is its ability to offer scale – and this could be a game changer when things like digital advice start to lift off in the UK. With the current advice gap only increasing in recent years, AI could be a great way to help advisers serve more clients and democratise the advice offering. Take the recent launch of the Money Saving Expert app, which uses a ChatGPT plug-in to answer finance-related enquiries. This is a great innovation, and we can expect to see more of these types of services emerge in the future.

“One area the advice industry will have to pay particular attention to is ensuring a consistent level of standards across the industry – and that will only come with training and refining the tech. No one is currently assessing the output of bots like ChatGPT too closely and this could pose real issues if not dealt with soon. Where is the bot getting its information from and is it providing the correct output based on the type of enquiry? What privacy concerns do we have with information being fed into the AI model? These are key questions yet to be answered by the tech providers, industry and regulators.

“Ultimately, advisers shouldn’t fear the impact of AI but instead welcome it with open arms as it will help achieve greater scale, enable them to focus on more meaningful work and support them in serving more customers.”

‘Essential to maintain a balance’

Dean Kemble, chief commercial officer, GSB Capital says increased efficiency, personalisation and cost savings are some of the key advantages of using AI, but he says there are concerns to be addressed too.

He said: “When considering the financial-advice market, we must remember that technology has been revolutionary over the past two decades. AI has existed for some time but is gaining media attention due to its continued evolution.

“By analysing financial data rapidly and precisely, AI can detect trends, patterns and investment opportunities that may go unnoticed by human advisers. This increased efficiency can accelerate decision-making and provide better-informed choices.

“Financial advice can now be personalised, using algorithms considering individual preferences, risk tolerance and financial goals. This leads to more customised and relevant recommendations for clients. With the help of AI-powered financial tools, customers can receive assistance and support around the clock, improving accessibility and customer service. This reduces the influence of human biases on financial advice, ensuring more objective and data-driven recommendations.

“By taking various factors and historical data into account, AI algorithms can accurately evaluate risks. This can help in creating diverse portfolios and minimising potential risks. By automating some financial advisory tasks using these tools, financial institutions and clients can save costs.

“That said, it is critically important to acknowledge the crucial role that human financial advisers play in the advice process. A notable advantage they have is their capacity to empathise with clients and comprehend their emotional requirements and worries. It remains to be seen whether this emotional intelligence is something that AI will be able to possess.

“Financial advice using AI algorithms can also be difficult to comprehend, causing concerns about transparency and accountability. Since it relies on data, there may be concerns about data privacy and security, especially if sensitive financial information is involved. When considering data, it also relies on the quality of the data.

“Depending solely on AI for financial advice may lead to a decrease in understanding of financial concepts among clients, which could create a reliance on algorithms without a solid foundation in financial literacy. Its use in financial advice will be subject to regulatory scrutiny and may present challenges in complying with existing financial regulations. These systems are not exempt from errors or biases, and unforeseen risks may emerge, affecting financial advice and investment outcomes.

“Using AI in the financial-advice sector can significantly enhance operational efficiency, enable tailored recommendations and aid in risk assessment. However, it is essential to maintain a balance between the use of its capabilities and the incorporation of the human touch to address emotional aspects and establish trust with clients.

“Robust data privacy and security measures must also be implemented to protect clients’ sensitive financial data. As AI technology advances, financial institutions and advisers must remain knowledgeable about its capabilities and limitations, adhere to applicable regulations and uphold ethical standards in their practices.”

‘A complementary tool rather than a replacement for human expertise’

Zach Womack, chief technology officer at SEI, also took the view that it’s important to strike a balance between AI and adviser capabilities.

He added: “While some may view AI as a threat to the traditional role of financial advisers, it’s essential to recognise that AI can bring significant benefits to their businesses and enhance the quality of financial advice provided to clients if advisers incorporate technology thoughtfully and with the appropriate guardrails.

“Financial advisers should be open to incorporating new technologies into their businesses, especially technologies like AI that can greatly improve their efficiency and productivity. AI-powered tools can analyse vast amounts of data in real time, enabling advisers to make well-informed decisions more quickly. This empowers advisers to focus on higher-level tasks, such as understanding clients’ unique needs, providing personalised advice, and building stronger relationships with their clients.

“Using AI and machine learning does provide potential challenges and pitfalls. AI should be viewed as a complementary tool rather than a complete replacement for human expertise. The human touch in financial advice is crucial for understanding the personalised aspects of clients’ financial goals.

“AI should not be seen as a threat to financial advisers but rather as a valuable tool that can augment their capabilities and provide enhanced services to clients. By embracing AI in their businesses, financial advisers can improve efficiency, accuracy and personalisation of their advice. The positives of AI in advice lie in its ability to process vast amounts of data, identify patterns and improve operational efficiency. Striking the right balance between human expertise and AI-powered insights is key to leveraging AI’s full potential for the benefit of both advisers and their clients.”

‘Here to stay’

Ian Mackenzie, chief operations and technology officer at St. James’s Place, said: “AI is here to stay, so let’s embrace it as an opportunity rather than see it as a challenge. In a face-to-face industry such as financial advice, the adoption of AI and data can be a force of good that can make firms easier to do business with.

“Great financial advice is all about getting to know the client so, for businesses like our own, it’s about putting technology behind, not in front of, the adviser. Used in the right way, AI can help power client relationships, improve experiences and provide better outcomes, alongside optimising administration processes for ease and efficiency. That can only be a good thing.

“We are already seeing first-hand how innovative technologies can evolve our business and we are only just scratching the surface in terms of what this technology can do in redefining the future of financial advice.”

The UK lifeboat scheme has announced its chief executive Caroline Rainbird has left.

Fiona Kidy, chief financial officer, has agreed to step up to lead the organisation while it starts the search for a successor.

The Money and Pensions Service (Maps)

Caroline Siarkiewicz has confirmed to the board that she will not be taking up a second term.

She was appointed as chief executive in January 2020 having been acting chief executive since June 2019.

Siarkiewicz will step down at the end of January 2024 after four years leading the organisation through a period of significant change.

The search for a successor will commence shortly and will be led by Maps’ chair Sara Weller. The appointment will be subject to the approval of the Secretary of State for Work and Pensions.

SEI

Jim London has been named as chief executive of SEI Investments (Europe) Limited (SIEL).

He will continue to maintain his responsibilities as head of SEI’s UK private banking and wealth management business.

London will succeed Brett Williams following his retirement, effective 30 June pending regulatory approval.

With more than 25 years’ experience in financial services, London currently serves as chief operating officer for SIEL.

Hargreaves Lansdown

The investment firm has appointed Brown Shipley’s investment head Toby Vaughan as chief investment officer.

Vaughan was previously head of multi strategy solutions at Santander Asset Management, a fund manager at LV Asset Management, and director for asset allocation at F&C Asset Management.

Marwyn Acquisition Company II

Will Self has been appointed as chief executive of the London Stock Exchange-listed acquisition vehicle.

He was previously chief executive for the pensions division.

Prior to that, Self was at Curtis Banks Group, where he was chief executive.

Waverton Investment Management

Steve Chhoker has joined the firm as chief financial officer.

Chhoker has close to two decades of experience in wealth management, previously holding senior finance positions at WH Ireland, Saunderson House and Brooks Macdonald.

He replaces David Welch, who leaves after serving 26 years with Waverton.

Axa Investment Managers (Axa IM)

Caroline Portel has been named as global chief operating officer, effective 1 July 2023.

She will take over from Laurent Caillot, who will pursue a new professional endeavour outside of the Axa Group.

Verso Wealth Management

The advice company has hired Jonathan Fell as group chief operating officer.

He joins from Assurant, where as digital, CX and customer service director, he led the digital transformation programme for its European operation.

Before his time at Assurant, he spent three years as group operations director at Succession Group.

Barclays Private Bank

The company has strengthened its presence in Asia by making two senior appointments in its Singapore office.

Tom Road has been appointed deputy head for Singapore. Having worked for Barclays Private Bank in London for the past 13 years, covering UHNW and Global Family Offices, Road has relocated to Singapore to take up his new role.

Wengmun Loh has been appointed head of dealing and derivatives in Singapore. Wengmun has been with Barclays since 2008 and was most recently head of UK direct access for Barclays Private Bank in London.

In his new role, Wengmun will relocate to Singapore and is responsible for building up the capital markets and trading capability of Barclays Private Bank, Singapore.

Abrdn

The asset manager confirmed that its head of digital solutions, Paul Titterton, has left the business.

Titterton joined the provider in January 2022, and was responsible for developing the firm’s digital retirement advice proposition.

A spokesperson for Abrdn told International Adviser: ‘We can confirm that Paul has left the company, we would like to thank him for his contribution and wish him well for the future.”

NextWealth

The research firm has appointed Emma Napier as consulting director.

Napier as previously head of sales and proposition at Bravura and head of distribution at True Potential.

Vistra

Jonathan Ferrara has been named as managing director for the firm’s Channel Islands arm.

He has held senior roles at various global organisations, including Bank of America, UBS and most recently Sanne, where he was managing director for Channel Islands.

Irwin Mitchell

The law firm has added to its high net worth and international tax team in London with the appointment of partner Matthew Briggs.

He joins from boutique private client practice the Burnside Partnership and specialises in personal tax, estate and succession planning for UK and international individuals and families.

Clarion Wealth Planning

The advice firm has expanded its team with the appointment of Bradley Peet as an associate financial planner.

He has joined Clarion after more than three years at Carpenter Rees.

Since then, Bitcoin has seen a number of key milestones, including it’s first-ever transaction to buy a pizza in May 2010, surpassing a valuation of $1 per coin, and reaching its peak valuation of over $65,000 (£52,787, €59,873) in November 2021.

Despite having lost more than two-thirds of its peak value since, Bitcoin remains the pre-eminent “coin” today. Yet during recent years, we have also seen a raft of competing cryptocurrencies across a range of blockchains.

The impact goes well beyond the idea of a digital currency and has spawned an entirely new industry known as “digital assets”. Digital assets refer to anything that can be “minted” and exchanged on a blockchain, while a blockchain is a technology platform generating a distributed database or ledger designed to record each asset and its ownership.

Digital assets come in a number of forms, including crypto assets like Bitcoin; stablecoins that are still digital but linked to flat currencies or commodities such as the US dollar or gold; non-fungible tokens (NFTs) that are cryptographic assets on a blockchain with a unique certificate representing ownership of a digital item such as a meme or digital art; and security tokens that are tokenised stocks or bonds.

What’s the appeal?

As we start 2023, digital assets have gradually taken on a different perspective through the lens of both a consumer and professional investors. Blockchain technology’s huge potential remains relevant and high on the list of engineering and product development teams across the globe and industries.

However, how the actual digital assets themselves are now being positioned as genuine investment options is one of the key developments in recent years. Cryptocurrency has been known to surge in value by more than 1,000 percent in a single year.

In the current low-return environment, these potentially high octane returns massively appeal to those who have lofty financial ambitions and are happily willing to take on more risk.

Digital assets can theoretically provide investors with uncorrelated portfolio diversification when coupled with traditional assets such as stocks or bonds. And they are viewed by many as a cool, fun, and modern way of investing, which for the newest generation of investors appears to be an important aspect.

Do digital assets have a role in an advised portfolio?

Digital assets as speculative, and astronomical gains are hardly guaranteed for any type of investment—but even less so for digital assets.

While the return potential of traditional assets, such as stocks, bonds, and real estate, can be evaluated based on the fundamental strength of an underlying business (looking at its forecasted earnings and asset levels), crypto assets have no such underlying businesses to evaluate; their return potential is anyone’s guess.

While these traditional investments may not be known to deliver quadruple-digit gains in a year, their return projections are typically grounded in relatively reasonable projections.

Yet, context is key. Financial advisers can’t afford to dismiss digital assets. As they continue to increase in popularity, clients will inevitably start to ask questions about their inclusion in their portfolios. Just saying “no” and having little or no knowledge of the asset class is likely to create unwanted friction with clients, especially as wealth moves between generations.

Equally, they shouldn’t be included in client portfolios in order to tell a good story and simply satisfy a client’s itch. Acting as an expert advocate for clients is a major driver in delivering valuable professional advice. This includes ensuring that everything proposed is ultimately in a client’s best interest from an opportunity and risk perspective, and the investment portfolio is a critical component of that advocacy. To offer such expertise means you need to understand markets, asset classes and associated risks, and/or partner with professional investment firms who do have that expertise and can provide support through the process.

Digital assets are different when compared to traditional assets, as they are still relatively immature and don’t carry the same intrinsic fundamental underpinnings, making their tangible and justifiable value difficult to determine. They remain highly speculative instruments with a genuine risk of losing their entire value, making them a potentially unsuitable investment choice for pursuing important financial life goals or too big of a proposition for the total portfolio value.

Unlike most traditional assets, digital assets remain largely unregulated, which can further enhance risk to investors. There is some talk of the regulation of digital assets, perhaps providing another reason to act with extreme caution regarding their inclusion in a client’s portfolio.

What we believe you should do next

Education: As with any area of advice, it’s highly unwise to recommend something you don’t understand. Education about digital assets, their potential benefits, and crucially, their risks is an important starting point. This should also include discussing the subject with your chosen strategic asset management partners to leverage their expertise in determining how best to incorporate such assets into a total portfolio—if appropriate, of course.

Communication: Talk to clients—or even prospects—about their own opinions and expectations around digital assets, ensuring to include a good cross-section of demographics to gain a real perspective of personalised needs.
As part of that process, passing on personal knowledge on the subject to adds value to the relationship while also avoiding any future misalignment of interpretation.

Planning: Because digital assets are speculative, an investor with the means to fund a speculative sleeve in their portfolios should do so with the full understanding of the investments they put in that sleeve—digital or otherwise. If there’s a willingness to accept the risk of a complete loss, designating a speculative bucket may satisfy an investor’s desire to test out new investments, dream big, and take a chance on the digital equivalent of a lottery ticket. Digital assets won’t be going away anytime soon, and demand for them is likely to accelerate quickly with the great wealth transfer. Doing nothing isn’t an option for anyone hoping to be successful, and those with specialist knowledge might actually create a differentiated and attractive proposition.

This article was written for International Adviser by Russell Andrews, global head of advice Solutions, SEI, Asset Management Distribution.

The fintech solution provider has named Ryan Hicke as chief executive.

He is executive vice president and chief information officer.

Hicke will succeed founder Alfred West Jr, who is transitioning to the role of executive chairman.

Aviva

The insurance giant has appointed Charlotte Jones as chief financial officer and executive director with effect from 5 September 2022.

She was previously chief financial officer of RSA Insurance and interim chief executive of the RSA UK and International business.

AES International

The Dubai-based firm has hired Chloe Higgins as senior associate.

Higgins was previously at UK firm Equilibrium Financial Planning, where she was senior client manager and team leader.

Rothschild & Co

The financial services giant has hired David Kilshaw as a managing director and head of private client wealth solutions in its UK wealth management business.

He joins from specialist private client advisory firm Rawlinson & Hunter.

Tilney Smith & Williamson

The wealth management and professional services group, which is set to re-brand to Evelyn Partners, has named Andrew Wilkes as chief professional services director.

He joined the firm in 2004 and has been head of tax for the past two years.

Wilkes succeeds Susan Shaw, who has been a member of the professional services executive for the last 10 years and who has led the business for the past four.

Shaw will hand over the reins to Wilkes at the beginning of July. She will remain as a partner but return to client work before retiring next March.

Also, the firm has hired Sarjul Patel as US/UK tax director.

Patel was previously associate director at US Tax & Financial.

Killik & Co

Georgie Killik will take on the role of deputy senior partner of Killik & Co.

She was previously head of innovation.

Ross Trustees

The professional trustee and pensions services firm has named Andrew Bradshaw as chief executive.

He will succeed Nigel Moore, who will remain on the board.

IQ-EQ

The financial services provider has hired Andréia Prates and Rachael Leung as client service directors in Asia.

Prates joins IQ-EQ’s Singapore office and previously worked for Deutsche Bank, Standard Chartered Bank and Brown Brothers Harriman.

Leung joins in Hong Kong.

IQ-EQ has additionally strengthened its senior client servicing team in Asia with the promotion of Connie Chan, who will take on the role of client service director in Hong Kong.

Epworth Investment Management

Simon Woolnough has been named as head of business development at the firm, according to his Linkedin profile.

He was previously head of distribution, tax at the Blackfinch Group.

Charles Russell Speechlys

The law firm has appointed Tom Henderson as head of trusts.

He joins Charles Russell Speechlys from Rawlinson & Hunter, where he established the firm’s Zurich office and started its Swiss trust company.