The world's up-and-coming wealthy are not only adopting new technologies, but also understand how digital communication tools can enhance experiences, according to a study released last week by SEI, Scorpio Partnership and Standard Chartered Private Bank.
"The Futurewealth Report: Stepping into the Communication Age," the second in a four-part series, surveyed 3,477 respondents globally with an average $1.9 million in assets. It underlines the importance for financial professionals to connect with clients through many different channels.
The first paper in the series showed that the world's new wealth creators, referred to as "Futurewealthy," have woven digital technologies into the fabric of their lives. The latest one explores how far they have stepped into the communication age.
It found that the Futurewealthy are not just effective communicators; they have also devoted the time and mastered the skills to make their voices heard.
As a group, they spend 30.5 hours a week in some form of communication or dialogue, and this figure rises to 43 hours among those whose wealth exceeds $4 million.
In contrast, those worth less than $500,000 spend 25 hours a week communicating with others.
