Three tips for private client wealth managers
KNOW YOUR CUSTOMER
Formalities and finances are not
enough. Personality and culture …
what’s important to them?
Do not expect one meeting will be
enough. Invest time.
Work out what they are not telling
Be prepared to let them know you a
bit too, encouraging them to open up
– but remember they are not really
that interested … you are not
REMEMBER IT’S THEIR MONEY NOT
Genuinely understand their risk tolerance
and return objectives.
Don’t “be clever” with their money.
Put things in terms they understand,
You are not there to judge their behaviour
– extravagance and inefficiency are their prerogative.