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By Beverly Chandler, Opalesque London:
The 2012 Future Wealth Report from Scorpio Partnership and sponsored by Standard Chartered Private Bank and SEI Global Wealth Services reveals the characteristics of the 'Futurewealthy’, a group who are currently worth on average $2m and expect to be worth three or four times that in the next 10 years.
In a detailed report useful for capital raisers or anyone targeting or managing money for high net worth investors, the Future Wealth Report finds that high net worth investors largely fall into four key sub groups: the Quietly Confident; Headliners; Life Surfers and Family Activists.
The survey found that in this high net worth group, it took them longer to arrive at the decision of which car to buy than to choose a private bank or wealth advisor. And this group spent an average of $16,200 on wealth management fees.
For these fees, the Futurewealthy expect a great deal of customer care and have needs and desires from their financial institution that change as they go through each stage of life. As the report notes, the same wealth manager might be managing the affairs of each generation in one family so the challenge to offer the best service is even higher.
Younger Futurewealthy clients, Scorpio says, like treats, events and hospitality while as they grow older, these clients come...................... To view our full article Click here
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