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Quote of the week

"Table stakes' promises are important to every investor. After that, however, different promises appeal to different market segments,"

Pershing

The UHNW Market: "Soft-Side" Services Now A "Must-Have"

Charles Paikert
Contributing Editor in New York

9 April 2012
Editor Choice

He conceded that competitively-fueled “institutional-based pricing” on the asset management side of the business has reduced margins as “clients recognize [asset management] is becoming more commoditized and expect to pay less and less.”

But Ascent teams can also provide non-financial services to “a reasonable amount of clients – no more than twenty,” Cole said. “If we can provide the right service to the right client, we can maintain a certain amount of revenue per client.”

For Rogerson, the potential profitability of non-financial fiduciary services lies in their appeal to potential clients.

“It’s a better way to open a door with a prospect than tax planning or investment management, [which] will ultimately be delivered and isn’t hard to find.” he said. “ If I bring tax planning or asset management up at a social gathering, it’s a nonstarter. But when I talk about the fiduciary side, people perk up. It’s not how you prepare the money for the family, but how you prepare the family for the money.”

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Expert Commentary

Private Client Resources

GUEST ARTICLE: Checklist For Success When Looking For An Outsourced Provider

Private Client Resources gives a "checklist for success" when it comes to pursuing an outsourced solution.

Private Client Resources

20 December 2013

Eliane Chavagnon

INTERVIEW: Helping Wealthy Families Maintain The Art Of Communication

Holding regular, face-to-face family meetings can help families to overcome some of the issues that can cause their wealth to dissipate over generations, says Claudia Sangster of CTC Consulting | Harris myCFO.

Eliane Chavagnon

5 December 2013

Susan Dauber

EXPERT VIEW: The "Third Pillar" Of Effective Year-End Tax Planning In Philanthropy

This is the first of a two-part article looking at tax planning and philanthropy issues. It is written by Susan Dauber, philanthropic advisor with Strategic Philanthropy.

Susan Dauber

30 September 2013

Eliane Chavagnon

INTERVIEW: UBS On Being Most – But Not All – Things To Ultra-Wealthy People

Ultra high net worth clients are interested in intellectual capital and sophisticated capabilities - they “don’t need to be sold anything,” says John Mathews, head of UBS Private Wealth Management.

Eliane Chavagnon

7 October 2013

Joe Reilly

Exclusive Q&A On James Grubman's New Book About How Families Adapt To Wealth Across Generations

This month, Joe Reilly goes back to interview Dr James Grubman of FamilyWealth Consulting, about his new book: Strangers in Paradise: How Families Adapt to Wealth Across Generations.

Joe Reilly

11 December 2013

Marc Odo

Guest Opinion: Diversification In The Age Of Globalisation

Marc Odo, director of research at software and business intelligence firm Informa Investment Solutions, discusses why diversification failed during the credit crisis.

Marc Odo

25 March 2013

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