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Featured Advisor

Ed Meek
CEO/Investment Advisor

Edge Portfolio Management


State: IL

At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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How to Get High Net Worth Clients: Give Them What They Want

A new Millionaire Corner survey tracks the wants and needs of Millionaire investors, and gives insights into how to get high net worth clients.

| BY Adriana Reyneri

First, the good news on how to get high net worth clients: Millionaires are generally satisfied with their financial advisors. About two-thirds strongly agree that their advisor “really listens” to them and view their advisor as a trusted expert, according to the results of our March survey. Roughly three-fourths strongly agree that they like their financial advisors and feel comfortable calling them with questions.

Now, for the bad news:  Satisfaction levels fall significantly when it comes to fiduciary duty. Fifty-six percent of Millionaires with $5 million or more strongly agree that “my financial advisor has my best interests at heart.” Advisors seeking insights into how to get net worth clients may want to provide prospective clients detailed information about their fiduciary role.

High net worth millionaires also indicate that their advisors take many steps to build a relationship, including quickly returning phone calls when they have a question or concern (92 percent), remembering details about my family and career (71 percent), touching base during big economic events (61 percent) and introducing me to new investment products tailored to my needs (61 percent).

Prompt and personalized communication emerges as a key component of how to get high net worth clients, but Millionaires are looking for enhanced services, as well. When asked what  their advisor could do to improve their relationship, roughly one-fourth said their advisor could do a better job of reaching out in times of extreme market volatility and other economic events, and an equal share indicated they were seeking additional information on new investment products.

Wealthy investors expert personal attention from their financial advisors, but they care equally about the bottom line. Providing information on new, suitable investment products is part of the answer to the question of how to get high net worth clients.