Operations 2023: Human versus Machine

In 2022 the UK wealth industry surpassed the £1bn mark for spend on IT alone as they seek technological developments that can make a significant contribution to operational efficiency developments.

However, a major issue this industry suffers from is a lack of scalability. Too often, when firms embrace technology we see more staff employed and therefore further cost increases, that prevent profit growth even in a more efficient set up.

Compeer will use data from our in-depth benchmarking survey of over 170 firms to highlight the problems firms are facing and discuss areas where improvements could be made. For example, increased automation in the onboarding process and is it time to consider how AI can have a positive influence?

We will also be joined by leading suppliers to the industry as well as a panel of wealth management professionals with expertise in technology and operations.




Event Information

15:00 – 15:30           Networking

15:30 – 15:35           Bruce Weatherill – Welcome & Introduction

15:35 – 15:50           Benjamin Reid, CBI

15:50 – 16:05           James Brown, Compeer

16:05 – 16:20           Russell Andrews, FIS

16:20 – 17:00           Wealth Management Panel Discussion

(Will Habberfield – LGT Wealth Management, Remy Carpenter – James Hambro, Daryl Hine – Stellar Asset Management, Niral Parekh – Atomos Wealth)

17:00 – 18:00           Networking

Bruce Weatherill, Master of Ceremonies

Bruce is a Chartered Accountant with over 35 years’ financial services industry experience around the world. He was a partner in PwC for 20 years and is now a non-executive director of Compeer as well as other companies.

James Brown – Director of Client Services, Compeer

James joined Compeer in October 2006 as an analyst following his graduation from The University of Warwick, where he studied Mathematics, Operational Research, Statistics and Economics.  Today he manages Compeer’s team of analysts. He has widely presented key trends in the UK Wealth Management Industry, with in-depth experience of providing statistical analysis of firms’ business performance. He regularly provides recommendations during presentations to Executive boards, and is actively involved in bespoke research projects.

Benjamin Reid – Director, Technology and Innovation, CBI

Benjamin leads the CBI’s policy team and programme on technology and innovation. The team works closely with both business and government to: strengthen the UK’s R&D and innovation ecosystem, ensure the UK leads on AI and emerging technology regulation, support business to effectively adopt technology to boost productivity, and make the UK the most effective place to grow and scale an innovative business.

Prior to the CBI, Benjamin held roles as Head of Capability Development at the Behavioural Insights Team, Head of International Innovation at innovation charity Nesta where he designed and directed the influential 16-country ‘Global Innovation Policy Accelerator’ programme, and as Head of Open Innovation at London-based think tank the Big Innovation Centre He started his career as a MBA tutor at Henley Business School where he also gained his PhD for work in innovation, leadership and impact assessment.

Russell Andrews – Head of Wealth & Asset Management Vertical EMEA , FIS

Russell Andrews serves as Head of Wealth & Asset Management Vertical EMEA within the FIS Capital Markets division.

Over the course of his 23-year career, Russell has worked across both asset servicing and wealth & asset management in roles spanning operations, client management, distribution, solutions and strategy.

Russell’s most recent role was as Global Head of Advice Solutions at SEI where he was responsible for the strategy, design, and development of advice and wealth management focused solutions globally. Before his last role he was head of solutions UK, Europe & Asia at SEI where he had strategic responsibility for SEI’s asset management solutions for all intermediary markets outside of North America.

Prior to joining SEI, Russell was head of distribution services at Momentum Global Investment Management. In that role, he managed the relationship between investment and operations teams and internal and external sales channels across all target market segments, including the UK, South Africa, and Far and Middle East for both Retail and Institutional. Before that he was an oversight manager at the firm, where he had oversight of all delegated outsourced functions, including custodians, administrators, transfer agents, company secretaries, and sub-investment managers across schemes domiciled in Luxembourg, Guernsey, and the UK.

Russell began his career in 2000 at BNY Mellon’s asset servicing business providing third party administration services to UK based asset management clients.

Will Habberfield – Partner, Chief Operating Officer, LGT Wealth Management

Will is a partner and COO at LGT Wealth Management. He has overall responsibility for operations, IT and business solutions, and facilities. As a qualified Accountant, Will joined LGT in September 2007 and held the position of finance director until September 2016. Prior to LGT, Will worked in various finance roles at UBS Wealth Management and RBS.

Remy Carpenter – Deputy Chief Operating Officer, James Hambro & Partners

Remy joined JH&P’s Operations team in 2011. Two years later, he became responsible for Client Onboarding and Corporate Actions, and in July 2015, was promoted to Operations Manager. In 2022 he was promoted to Deputy COO. Remy graduated from the University of Durham in 2011 with a BA Hons in Modern Languages, where he had the opportunity to spend a year abroad at the University of Cologne and Barcelona’s Pompeu Fabra. Remy holds both the Investment Operations Certificate (IOC) and Investment Management Certificate (IMC). He is motivated by JH&P’s high-performance culture and immaculate moral compass, meaning that the client’s best interests are always the priority. He’s made lifelong friends at the firm and genuinely enjoys coming to work every day. Remy is inspired by those dedicated to their craft and believes talent without hard work will almost always go to waste. He loves playing golf and keeping fit. He’s got a taste for boxing – watching, going to shows, and training is his true passion.

Daryl Hine – Chief Operating Officer, Stellar Asset Management

With over 30 years business experience and a proven track record in financial services, Daryl has provided both strategic insight and operational leadership across a range of businesses.

He has experience with multinational PLCs and start ups but has a passion for SME’s – particularly the people side of the team. He enjoys getting to the essence of any problem, whether it’s team building, lead generation or product development related, and working with the right person to come up with the right solution.

His qualifications include holding a Diploma in Neuro Linguistic Programming (NLP) as well as an MBA in Business Administration and Management from Lancaster University – one of the UK’s top 3 business schools.

Outside work and education, Daryl is a keen globetrotting traveller and loves all things tech, especially when keeping an eye out for the next big market disrupter.

Niral Parekh – Chief Operations Officer, Atomos Wealth

Niral Parekh is our Chief Operations Officer, in charge of operations, digital and technology functions.

Niral was previously a director in digital, strategy and turnaround consulting (ex-Big 4), in charge of business turnaround, corporate strategy, proposition & operations design, digital transformation, regulatory and delivery for wealth and private banking.

Niral completed his undergraduate degree in Boston, and started his career in New York with Deloitte Strategy Consulting. He subsequently moved to London and worked at Ernst & Young within their private equity, wealth and asset management business.  He has held roles in wealth management previously, as head of product proposition at Tilney and Towry Wealth management in charge of DFM, technical, advice and fund of fund proposition. Also headed corporate strategy and risk at Ashcourt Rowan.

Niral is a CFA charterholder and has an MBA from London Business School. He lives in Chislehurst and enjoys hiking, running and spending time with his family.

Research Partner


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Tuesday 1st October 2024
15.00 - 18.30

Compeer, who have benchmarked the UK wealth management industry for over 30 years, have highlighted that just under 40% of wealth management firms currently make a loss or return less than 10% net margin. The average net margin for the wealth management industry, as a whole for 2022, is 23%, which appears healthy.

This event will examine why so many firms are poorly performing and the practical measures they can take to improve their performance.