AI Erodes Value of Private Banking Services
Simon-Kucher partner Silvio Struebi says AI and fintech are making clients more independent from private bank advice.
Updated on Nov. 5, 2026 in Investing
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Silvio Struebi, partner and head of APAC financial services at Simon-Kucher, said AI and fintech have eroded the value of private banking services. He spoke at the Hong Kong leg of the ABF IA Summit 2026 on 5 November, advising private banks to raise advisory value by recognizing client independence.
Why it matters
Fintechs have made high-touch products once available only through private banks accessible at lower prices, and clients now use AI to benchmark their own holdings against private bank advisors. This shift reduces reliance on private bank product advice and changes what advisors must offer.
The remarks were delivered at the Hong Kong leg of the ABF IA Summit 2026 on 5 November 2026. No hard financial or market data accompanied the presentation in the source material.
The players
Silvio Struebi
Partner and head of APAC financial services at Simon-Kucher, a consultancy advising financial institutions on pricing and client strategy.
Simon-Kucher
A global pricing and strategy consultancy whose financial services practice advises banks and wealth managers.
The details
Struebi said clients now challenge private bank advisors with AI-driven benchmarking, often leaving advisors unable to answer. He argued private bankers should act as validators of clients' own tools and financial decisions, and projected future allocations featuring more ETFs and wealth advisory built as modular structures with wealth planning AI companions.
Timeline
5 November 2026: Struebi speaks at the Hong Kong leg of the ABF IA Summit 2026.
Market Dynamics
The argument extends the robo-advisory wave of automated portfolio management, now pressing private banks to justify advice through AI-driven benchmarking that clients can run themselves. Struebi's projection of more ETFs in allocations reflects the same low-cost, self-directed direction.
Investors who use AI benchmarking tools can compare their portfolios against advisor recommendations directly. Future allocations featuring more ETFs may lower costs for self-directed investors.
The takeaway
Investors gain leverage by benchmarking advice with AI tools before accepting private bank recommendations. Advisors who explain and validate those choices are likely to retain value.
Further reading
Explore more on Investing to see how self-directed tools are changing advisory relationships.
Source note: This article includes information reported by Asian Banking & Finance.
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