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Archive for the ‘UHNW’ Category

What do UHNWIs expect from their wealth managers?

Monday, July 3rd, 2017

Ultra-wealthy clients have exclusive demands and expect to be the first to obtain the best. Providers catering to this sophisticated client segment have to be prepared to meet these needs. While the retail segment might have real-time access to social media, tech tools and, increasingly, financial advice earlier reserved for the higher-end of the wealth bands, this does not make them superrich. Wealth managers are well-advised to address the UHNWIs’, particularly the ultra-wealthy millennials, demand for more accessible exclusive online services and an increased adoption of innovative technology.


Our new report Digital Offerings for Ultra-High-Net-Worth Clients 2017 shows how wealth managers can win and engage the ultra-wealthy online. The study is based on a unique analysis of current digital capabilities offered by twelve of the leading global financial providers to the UHNW sector: UHNW wealth managers, independent private banking businesses, as well as global institutions with a distinctive private banking division serving UHNWIs.

One of the most striking findings in our analysis shows major gaps in the area of social media and exclusive features for the ultra-wealthy client base. Comparing the digital capbailities of banks to those of UHNW luxury brands, we have found that luxury firms are already accustomed to leveraging digital to raise awareness about the brand. By having taken the risk to innovate and test new digital touch points, including social media and co-creation campaigns to generate a highly personalized experience, these digital champions show a good understanding of how to engender loyalty and trust.