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What would your business (and life) look like if you started working with ultra-wealthy clients ranging from $40 to $100 million?
Working with ultra-wealthy clients can be more complex than “merely” high-net-worth clients. These individuals have distinct needs, expectations, and concerns that require a specialized approach from financial advisors, planners, and wealth managers.
In this episode of Top Advisor Podcast, featured guest David Kirschenbaum, a Tiger 21 Chair, sheds light on the unique perspectives and requirements of wealthy entrepreneurs.
Tiger 21 is an organization whose members have an average net worth of $117 million.
Bill Cates and David Kirschenbaum discuss the fact that these wealthy entrepreneurs are not solely focused on accumulating wealth but also on preserving their assets.
This focus necessitates a holistic approach to ultra-high net worth wealth management that includes comprehensive financial planning, tax optimization, risk management, estate planning, and philanthropic strategies. Advisors and wealth managers need to go beyond traditional investment strategies and consider the long-term preservation of substantial wealth.
In this engaging conversation, you’ll gain insights into:
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- The unique challenges and opportunities faced by wealthy individuals, and the importance of having the right trusted advisors in their corner.
- How advisors need to demonstrate the ability to collaborate and coordinate with a range of professionals to provide a cohesive, integrated approach to ultra-high net worth wealth management.
- The fee-sensitive nature of these wealthy individuals (seeking great transparency and value-based services).
- What a representative of an RIA said to this group about how to select the right financial advisor.
- How too many advisors still ignore the spouse and other family members, causing them to lose clients.
- David Kirshenbaum’s varied and successful business career, including how he has created huge business deals using his vast “relationship capital.”
- …And more!
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