Introduction
Assesses the extent to which wealth managers currently manage relationships
with wealthy offspring, analyses current innovative initiatives for holding onto
client wealth and identifies the strategies that wealth managers need to employ
in order to ensure that this money remains under their management.
Scope of this report
- Primary interviews with 7 industry executives including Managing Directors
and Marketing Managers
- Geography: Asia, Europe and the USA
Research and analysis highlights
Strategies employed by private banks fall into those that constitute
operating expenses and those that directly earn revenue.
A number of 'enlightened' institutions are increasingly realizing that they
do not have the time nor the resources to organize the whole breadth of
educational initiatives that clients are demanding. This has led to private
banks outsourcing many education and training requests from wealthy families.
Example of sporting and social events: In Spain, Banif organizes golf and
horse-riding tournaments for wealthy families. Example of educational events:
Citigroup Private Bank organizes conferences to encourage debate and thought on
the issue of protection of wealth to engage with the children of wealthy
families.
Key reasons to read this report
- Learn about competitive practices around the world and develop best
practice strategy for your organization
- Identify a range of key strategic considerations and actions needed to
deepen relationships and enhance share of wallet
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