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The stature of their wealth demands moreattention, personal communication, and seamless serviceAs a financial advisor, if you are looking to get more HNWIs, then your goalshould be to provide them with comprehensive and customized investment plans.
Don’t believe us?Focus on high density segmentSpectrem Group research has concluded that 63% of HNWIs are retired and 14% consider themselves semi-retired.
Also, 30% of them invest only during an event i.e., they seek consultation only when the need arises.Which means that a majority of them are looking for estate planning, customized wealth management solutions, and philanthropy optionsMake sure these areas are your strengths when it comes to giving them advice.Develop the right personalityEvery HNWI is looking for a specific set of personal qualities from their financial advisor.To break into their circles, you need to cultivate a personality that allows them to trust your advice on their money.From being proactive to dealing in absolute discretion and being responsive and reliable, your attitude should put them at ease and make them believe that you are the right person for the job.Prioritize getting things doneThis might sound straight out of Hollywood, but it’s very sound advice.Your HNWIs do not have the time or intention to worry about their financial hurdles.
And since they have money, their problems are more complicated than the average Joe.As their advisor, your only work is to become a one-stop solution to getting these problems fixed efficiently.
The less your client has to worry about the money they trust on you, the larger share of their pie you are likely to get.Offer investment diversityIf you have more than a million dollars in investible liquid assets, then you will need a portfolio that looks further than the horizonFinancial advisors to HNWIs need to have a diverse set of options that include everything from art to BigTech options, gold bullion, or prime real estate.Not just that, they also need to focus on maximum tax efficiency and high returns so that their clients never regret trusting them in the first place.Network with other industriesHow does a financial advisor get more HNW clients?Start interacting with other industry professionals that also have similar client profiles, like lawyers, real estate firms, accountants, and personal shoppers.
If you can score an introduction with a client from someone they already know, your trustworthiness improves immediately!Also, service your existing HNW clients in a way that they recommend other people from their social circles.


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