Private Wealth: “Wealth management firms typically emphasize applying a personal touch in how they serve clients, driven by a sincere concern for their well-being, and a desire to build long-term relationships. And to a significant extent, the industry has delivered solutions that work for both clients in the mass market, generally defined as individuals and households with below $1 million in net worth, and to the upper echelons of the high net worth, broadly defined as those who have more than $20 million in net worth. The former is usually supported by a spectrum of small, independent financial advisor businesses, while the latter continues to be dominated by an assortment of white shoe family offices and Wall Street institutions. But this also means there is an “overlooked millionaire” segment of the wealth management market, comprised of individuals and families with between $2 million to $20 million in net worth, who have more complex needs than the mass market, but simply aren’t worth the time and attention of the top players in the industry.“
Aligning Client Lifestyle, Dreams And Legacy Goals With Wealth Objectives
By On the Net|2018-07-16T12:49:01-07:00July 19th, 2018|
About the Author: On the Net
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