Updated June 7, 2022, at 4:07 PM
You’re a wealth manager, and you want your business to be part of the high-net-worth individual’s (HNWI) club. Now, the goal is understandable from a business perspective, but you’ll need to understand the minds of those in this niche if you’re going to be accepted.
An Investopedia report found that 98% of HNWIs access the Internet daily and are early adopters of emerging products. They’re tech users and tech investors. Since 2019, the key wealth driver has been tech-driven. Apple, Amazon, and Microsoft accounted for more than 53% of S&P 500 total returns posted during 2020.
If you want to capture the HNWI mindshare in today’s wealth management landscape, you’re going to need to invest in talent and technology that provides omnichannel advisory services.