Private banks must prove advisory value as fintech and AI undercut prices

Private banks are being urged to prove the value of their advice as fintech and AI push prices down and make high-touch investment products easier to access. Speaking at the Hong Kong leg of the ABF IA Summit 2026 on 5 November, Silvio Struebi, partner and head of APAC financial services at Simon-Kucher, said clients increasingly benchmark using AI and then challenge advisors. He argued banks should lean into clients’ independence, positioning advisors more as validators and orchestrators of wealth planning—especially around retirement and pension gaps—rather than primarily product sellers. Banks were also advised to review product margins, relationship-manager metrics, and shift gradually toward ETF-heavy allocations.