Page 23 - Investment Advisor April/May 2023

A

Wealth

of
Opportunities

A conversation with Mercer Advisors’ Jeremiah Barlow

about serving HNW, UHNW and family office clients.

BY JEFF BERMAN

he number of U.S. investors with assets of $1 million or more is set to reach nearly 28
million in 2026, according to the Credit Suisse Research Institute, up about 13% from
Troughly 24.5 million in 2021. Meanwhile, some 141,000 U.S. investors had $50 million
or more in total assets in 2021, and this figure could grow by 30% by 2025 to over 180,000.
Serving these households represents “a golden age of the financial planning era,” as wealthy
clients seek access to the best products and services, as well as relationships with financial
advisors “they can trust to serve them” as fiduciaries, says Jeremiah Barlow, head of Family
Wealth Services for Mercer Advisors. “That’s a big trend.”
Of course, it takes a team effort to provide high-net-worth and ultra-high-net-worth clients
with what they need to realize their long-term wealth goals. A recent Cerulli Associates’ poll
of advisors serving high-net-worth clients found their top business challenges are navigating
market volatility (48%), integrating systems (39%), and attracting/retaining personnel (35%).
Barlow — an estate planning attorney who joined Mercer in 2013 and is based in Santa
Barbara, California — candidly breaks down the multiple challenges involved in providing
wealthy clients with the full suite of complex services they are looking for. He also highlights
what it takes to succeed in these competitive industry segments.

APRIL/MAY 2023 INVESTMENT ADVISOR 21