☛ Read our views on Family Office and Ultra High Net Worth (UHNW) Marketing and Prospecting!
While the pandemic has significantly shifted the world and how we conduct things, prospects for growing a wealth management firm have never been greater, especially with the growth of so many multi millionaires that can use a wealth manager’s comprehensive services and financial planning strategies.
Learn everything you need about high net worth marketing for financial advisors, wealth managers and investment professionals.
With America adding 56 new billionaires in 2020 for a total of 659, the business of wealth management continues to surge with chances to grow.
With so much wealth created in the United States, it stands to reason to wonder where it’s coming from.
Many of America’s newest billionaires come from a crop of 2020’s most impressive IPOs. Count DoorDash’s Tony Xu, Airbnb’s Brian Chesky and Snowflake’s Frank Slootman among them. These individuals benefited from an evolutionary approach to innovation, but there are other factors at play.
With lower interest rates and more fiscal stimulus, asset prices have surged, driving the world’s ultra high net worth (UHNWI) population 2.4% higher over the past 12 months to more than 520,000. The process was seen across North America and Europe, but it was Asia, with 12% growth, that saw the real upswing. The expansion in wealth was not universal, with a fall in the number of UHNWIs in Latin America, Russia and the Middle East as currency shifts and the pandemic undermined local economies.
This is great for you!! You have services and solutions that ultra high net worth individuals and family offices can benefit from. The question is, how will you get in front of such individuals, when they are used to the red carpet rolled out for them from every single one of your competitors?
What are their current needs (which are, in their mind, extremely well-covered), how will you distinguish your practice and services, and what will be your sales and brand strategy?
These are all highlighted in our articles and blogs below.
Please reach out to speak further about our coaching, consulting and marketing strategies, during which we can roll up our sleeves and help bring your actual goals to reality through our advice and implementation.
We are Ultra High Net Worth Business Consultants, helping banks, CPA firms, RIA’s, family offices and wealth management firms better penetrate this market segment and niche.
If you are looking to better serve the UHNW market, or go “upstream” from mass affluent and HNW to those who have significantly higher wealth, you need to make sure you have the resources, messaging and value proposition to differentiate yourself. Remember, these are people who are being frequently approached with different ideas and platforms. How will you stand apart?
Read below some of our top ideas and strategies to get into the Ultra High Net Worth market segment.
YOU and your clients believe you are trustworthy. But how can you prove that to those who don’t know you? Is there a benchmark for measuring your trust level against, so you can measure your stats and improve them if need be? We believe so, and we want to show you the building blocks around measuring “trust.”