April 3, 2017
Counselling. Not often a function closely associated to roles within financial spheres, but results from our recent thought leadership report ‘The Many Hats of the Modern Wealth Manager’ have proven the undeniable need for wealth managers to become guiding lights to their clients.
Wealth has a way of stirring up complex emotions – familial strains can result in stress, inheritance planning can lead to worry, and structuring investments opportunities can result in feelings of excitement and curiosity. To make a long story short, just like Alice and the Mad Hatter, things come into perspective when she gradually learns about the rules of the universe she has stepped into.
Similarly, advisors need to learn the rules outlined by their clients, so as to make them feel that they can fully trust their wealth managers. In fact, a majority of the HNW European investors we surveyed stated that as opposed to fully dedicating areas of their wealth management to advisors, they much prefer seeking advice and collaborating with the professionals.
In a nutshell? Clients want strong relationships. They want to be counselled.
Discover more about wealth managers’ Counselling hats and HNWs expectations. Download ‘The Many Hats of the Modern Wealth Advisor’ report.
