December 13, 2015
To really impress the global go-getters who are the world’s wealthiest investors, money managers must present a culture that combines value and values. When European clients make a decision about which wealth manager to work with, reputation is the most important factor; 54% of clients said this was the single biggest influence on their decision.
Source: The Futurewealth Report; Scorpio Partnership, NPG Wealth Management and SEI
Costs follow closely, with two-fifths singling out fee considerations, whilst 35% of wealthy Europeans say their opinion is most swayed by independent ratings and reviews. When it comes to assessing wealth managers, it seems HNWI are willing to trust the experience of their peers.
On average, investors consider just three firms before deciding who to commit to and, interestingly, it is the wealthiest clients who set the bar highest for their prospective partners. These UHNW individuals are searching for a provider who can impress right across the board and, in fact, there is just a 20% differential between the firm’s reputation and its social media activity, proving that success depends on an ability to leverage all available communication channels.
