Tips for serving wealthy clients: HNW conference

October 30, 2013 | Last updated on October 30, 2013
2 min read live-tweeted the Strategy Institute’s HNW conference this week. It featured speakers from major wealth management firms and banks.

These experts focused on how advisors can better serve wealthy clients. For those who missed day one, we’ve compiled our tweets:

Here’s the first round:

Michael Downs (from Connor, Clark and Lunn Private Wealth) says he’s worked in the [advisory] area for 20 yrs, and collecting & analyzing data & executing plans is most crucial #HNW13

That’s because people are bombarded with data, and you need to inspire their confidence. He also connects with clients using videos #HNW13

Markets have become more highly correlated, so harder to diversify and protect portfolios #HNW13

Downs also finds wealthy clients are dipping more into alternative asset classes #HNW13

For more, read: Want returns? Choose alternative investments

How do your clients invest today? If alternative assets are the focus, learn how to analyze these and provide advice, says Downs #HNW13

Advisors helping wealthy clients must have both relationship and technical skills. Deeper expertise is needed to get results #HNW13

The number of wealthy clients is rising; most are in North America and Asia, but North American investors are wealthier, says Tom Kentgens from Ortec Finance #HNW13

Kentgens says these clients trust their advisors #HNW13

Read: Keep clients devoted

Both private & wealthy clients prioritize the protection of capital. If upping portfolio risk, explain how it is/isn’t affected #HNW13

Clients’ goals are ever changing, especially those with families. Say kids want to study abroad: how does that change their planning? #HNW13

Help people develop specific goals. When client mentions kids’ school savings, for example, ask for specifics & show how impacts other goals #HNW13


Always use real-world case studies to explain strategies to clients. These have more impact & show goals can be met #HNW13

Make graphs & materials easy-to-read for clients (though some ppl also like more complex data) #HNW13


For more on wealthy clients, read:

Help wealthy overcome 4 estate mistakes

Million-dollar portfolios

Wealthy focus on savings after recession, says study

6 prospecting tips

The rich sleep best