Wealth management challenging as 'recovery will be sluggish'?

Wealth management might be difficult for Britons with private wealth, as one expert claims the economic recovery "will be a sluggish one".

Tony Dolphin, senior economist at the Institute for Public Policy Research, noted recent data reveals fiscal activity is weaker than might have been thought following good gross domestic product figures from the second quarter of the year.

Corporate banks might be faring well, however, as the wealth management specialist observes: "The financial services sector is doing better than it was."

A Confederation of British Industry report shows over the last three months the industry grew faster than at any time since June 2007, with profitability up for the fifth successive quarter.

Nevertheless, wealth management may remain challenging, as Mr Dolphin observes economic indicators since the June Budget "have tended to disappoint expectations", indicating despite pockets of strength, the British economy as a whole has some way to go before operating at levels seen before the recession.  ADNFCR-2318-ID-800091351-ADNFCR