http://www.wealthstrategistnetwork.com/
In our continual search to upgrade our own education in how to better look after our clients Wealth Management needs we come across a significant number of publications.
Currently we are reading one that we think is very accessible and certainly is very client oriented. (link above for more info).
"Wealth" (by Stuart Lucas) is written for anyone concerned about wealth creation, wealth management, families with wealth, retirement planning, and multi-generational estate management. Most of the book's guidance applies whether you are worth a few hundred thousand dollars or a few hundred million, and whether you are a wealth owner or advisor. Affluent professionals and successful entrepreneurs can use "Wealth" to adopt a strategic, focused, and disciplined approach to growing and diversifying their financial assets. "Wealth" is equally useful to wealth industry professionals who want to strengthen their relationships with clients by better serving their long-term interests.
We have also just finished reading the Capgemini and Merrill Lynch Global Wealth Report, 2009.
This report focuses on and analyzes the macroeconomic factors that drive wealth creation and helps us (wealth management consultants) better understand the key trends that affect High Net Worth Individuals (HWNI's) around the globe.
Some highlights:
At the end of 2008, the world's population of HNWI's was down 14.9% from the year before.
Their wealth dropped 19.5%
Equities as a % of HNWI portfolios dropped from 33% to 25%.
Cash holdings increased by 7% to 21%
HNWI's are expected to remain fairly conservative in the short-run.
More than 1/4 of HNNI clients surveyed withdrew assets from their wealth management firm or left that firm altogether in 2008, fueled by lack of trust/confidence.
Service quality was by far the top driver of client retention in 2008.
On-line access and capabilities was deemed very important by 66% of clients.
Risk management and due diligence capabilities, 73%
Fee Structure, 48%
There is plenty more at http://www.capgemini.com/resources/thought_leadership/2009_world_wealth_report/
About Me
- Private Family Wealth Management
- Prior to joining High Rock Capital Management, I spent 15 years as a Vice President, Senior Investment Advisor, Portfolio Manager and Branch Manager at several Canadian Investment Dealers and as a partner in the Turner Tomenson Wealth Management Group. My main focus was to assist families in assessing and managing their investment risk and ensuring that they were steadily progressing toward their goals. Through the 1980's and 1990's, I spent 20 years as a Vice President, Fixed Income Trader and Risk Manager in both Canada and the United States at leading Banks and Investment Dealers, honing my skills for managing risk. I blend my time between macro research, portfolio management and client service. Most importantly, I am on a mission to bring the public up to date on the very big difference between old school "investment advice" and the more fiduciarily responsible art of portfolio management. I hold a BA in Economics from the University of Western Ontario (1980) and the Chartered Investment Manager designation (2014). I was recently awarded the certificate in Advanced Investment Advice.
My Blog List
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Facing your truth - blindspotting3 years ago
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1 comment:
With the bad market, one quarter of clients shifted out of their current service provider. That is a huge shift.
Surely that is more about shock than service quality?
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