Wealth continues to concentrate among high-net-worth and ultra-high-net-worth clients, and wealth managers are pivoting their focus accordingly.
Research from Cerulli Associates and others shows that even advisors traditionally serving mass-affluent clients are making this shift, attracted by higher margins and accelerated asset growth despite the challenges of elevated service expectations and concentration risk.
Success in this marketplace requires adapting to changes driven by major events like the Great Recession and the COVID-19 pandemic. Getting it right unlocks significant growth opportunities, experts agree, while missteps can alienate clients across all wealth segments.
Advisors interested in stepping up their HNW client service skills can attend ThinkAdvisor’s upcoming webcast, “The Future of HNW Success: 2025 Investment and Planning Trends.”
