2025 marked a year of significant developments in the private banking sector as clients navigated changing global conditions, heightened regulatory demands and increasing cross-border activity.
Technology was the standout driver for change within the industry, with progressive houses using it to strengthen operational processes and improve accessibility. Meanwhile, consolidation and rising entry thresholds have reshaped how clients engage with advisers, influencing where they seek stability and long-term relationships. These developments lay the foundation for a period of measured evolution.
As we enter 2026, geopolitical uncertainty persists, driven by ongoing global conflicts, escalating trade tensions and weakening international governance. These dynamics have created an increasingly complex environment for clients, who are prioritising resilience, disciplined risk management and organisational stability. Confidence in financial institutions remains anchored in strong governance, operational integrity and regulatory clarity.
Digital solutions have shifted from being a differentiator to a standard expectation in private banking, with 87% of UK adults now using some form of online or remote banking (CoinLaw, 2025). Technology plays a leading role in shaping the client experience and the next phase will favour firms that integrate these tools responsibly, enhancing decision-making rather than replacing human judgment.
Artificial Intelligence (AI) is increasingly embedded in operations as 75% of UK financial firms currently use AI, with nearly 60% reporting productivity gains, and 91% viewing it as an opportunity (FCA and Lloyds, 2025). There are clear benefits in using AI to support analysis, improve efficiency and enable more accurate scenario planning. Yet AI alone cannot deliver the trust and insight clients expect. Experienced professionals remain essential to interpret outputs, assess suitability and maintain the human element that underpins long-term relationships. Success in 2026 will depend on uniting innovation with expertise.
Today’s clients are increasingly mobile, with families, entrepreneurs and businesses often operating across multiple jurisdictions. This trend was reflected in an approximately £1.14 trillion increase in global cross-border bank credit in Q1 2025, bringing the total to a record £26.35 trillion (Bank for International Settlements, 2025). Private banks play a critical role in managing cross-border needs, complex structures, and multi-location assets. In this environment, expertise in regulatory alignment and tailored solutions that span borders are essential. Equally important is the emphasis on trusted, long-term relationships, which provides clients with the stability and confidence needed to navigate growing complexity.
Another emerging trend is the rise of first-generation wealth creators and those beginning multi-generational planning earlier in their financial journey. For this segment, transparency, control and a clear understanding of risk frameworks are top priorities. Trusted advisers remain central, guiding families through transitions, helping define objectives, and establishing consistent strategies across generations, ensuring stability and long-term success.
In recent years, the private banking sector has undergone significant consolidation, leading to more standardised processes and, for some clients, fewer personalised touchpoints. Independent firms with experienced advisers stand out by offering an alternative approach that prioritises individual needs and values continuity over scale. Partnerships that combine deep investment expertise with robust governance and risk frameworks provide clients with breadth without compromising independence. This balanced model remains highly relevant as clients seek clarity, consistent advice, and long-term alignment.
A forward-looking industry relies on steady foundations. The next phase of private banking will reward institutions that uphold clarity, independence and a disciplined approach to stewardship, while adopting technology that strengthens the client relationship. This balance will continue to guide Turicum’s long term contribution to the UK market and to the clients we support.
By Benjamin Moss, Chief Legal Officer and Deputy CEO at Turicum Private Bank
