Clientele with a high net worth want more than financial advisors or planners. They are looking for services that exceed these.
The best answer is often advisor coaching. You want to clearly show people that your company is willing to develop a strong relationship with more than just the head of the family - with all of the generations and key people from the larger family. This is key for mitigating the risk of having wealth move outside of the family.
You need, thus, to make it obvious that you are capable of tracking non-monetary values and building these relationships. This means using marketing tools to demonstrate these things to prospective clients. It also means keeping your existing clients satisfied.
Much of the business at this level is obtained through referrals and word of mouth. In this day and age, it is also vital that your client can communicate with you and access their information from anywhere, so any software systems you use need to be mobile optimized (as does your website).
It is probably hard to set yourself apart from your competitors - even getting to the rare level is going to make you stand out. The hardest challenge is often finding your first client with a high net worth - and the solution is to start associating and marketing yourself with a reputable brand that your clients already understand. The incredible competition for clients of this caliber can also make it difficult to retain them.
If you want more high net worth people to start noticing your business, get ready to offer personalized, top-notch services that meet their demands and expectations. Services like these exceed the body line and hit the very next level of expectation and although this level is difficult to remain on pace with, having the best tools is guaranteed to help.
The best answer is often advisor coaching. You want to clearly show people that your company is willing to develop a strong relationship with more than just the head of the family - with all of the generations and key people from the larger family. This is key for mitigating the risk of having wealth move outside of the family.
You need, thus, to make it obvious that you are capable of tracking non-monetary values and building these relationships. This means using marketing tools to demonstrate these things to prospective clients. It also means keeping your existing clients satisfied.
Much of the business at this level is obtained through referrals and word of mouth. In this day and age, it is also vital that your client can communicate with you and access their information from anywhere, so any software systems you use need to be mobile optimized (as does your website).
It is probably hard to set yourself apart from your competitors - even getting to the rare level is going to make you stand out. The hardest challenge is often finding your first client with a high net worth - and the solution is to start associating and marketing yourself with a reputable brand that your clients already understand. The incredible competition for clients of this caliber can also make it difficult to retain them.
If you want more high net worth people to start noticing your business, get ready to offer personalized, top-notch services that meet their demands and expectations. Services like these exceed the body line and hit the very next level of expectation and although this level is difficult to remain on pace with, having the best tools is guaranteed to help.
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