Grow Your Advisory Firm By Working With HNW Clients

Working on growing your advisory firm? Consider adding high-net-worth (HNW) clientele—those with $1 million to $5 million in assets—to your roster.

Why? Opportunity.

Many HNW investors work with financial professionals to manage their money; however, about one-third aren’t working with an Advisor.[1]

And just because they’re already working with an Advisor doesn’t mean they’re committed to that relationship.[2]

  • Nearly half plan to change/add a wealth relationship in the next 12 to 24 months
  • More than one third switched/added relationships in the last three years

When HNW investors make a change, it’s because:[3]

  • they want increased personalization
  • their current Advisor can’t support their changing financial circumstances
  • they want access to different products or services
  • they’re looking for improved digital capabilities

If you’re looking to attract and retain the HNW, understanding their objectives is key. Each investor, including HNWs, has a unique mindset and goals. However, most HNW investors are looking for:[4]

  • financial planning
  • investment management
  • wealth transfer advice

Once you determine the needs, expectations, and focus of each HNW client, then you can plan and strategize appropriately to help them reach their goals.

Ready to learn more? Access our complete Guide to Working with the High Net Worth.

The Symmetry Regional Team can help guide you on our HNW solutions including Axiom Personalized Direct Investing and Tax Alpha and provide business intelligence and consulting services to address the intricate financial requirements of HNW investors.

Need help reaching the HNW audience? Symmetry Marketing Group provides marketing, branding, and digital marketing expertise. 

 


 

This material is for educational purposes and intended use is for financial professionals. Symmetry Partners, LLC (“Symmetry”) provides this communication as a matter of general information. Information contained herein, including data or statistics quoted, is from sources believed to be reliable but cannot be guaranteed or warranted. Due to various factors, including changing market conditions and/or applicable laws, the content may not be reflective of current opinions or positions. All content is for educational purposes and should not be considered investment advice, recommendation, or offer of any security for sale. 

Symmetry is an investment advisory firm registered with the U.S. Securities and Exchange Commission (SEC). The firm only transacts business in states where it is properly registered or excluded or exempt from registration requirements. Registration with the SEC or any state securities authority does not imply a certain level of skill or training and does not constitute an endorsement of the firm by the SEC. 

Symmetry charges an investment management fee for its services. All Symmetry fees can be found in the Symmetry Form ADV Part2A located at www.symmetrypartners.com. Past performance does not guarantee future results. All data is from sources believed to be reliable but cannot be guaranteed or warranted. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, product, or any non-investment-related content referred to directly or indirectly in this material will be profitable or prove successful. As with any investment strategy, there is the possibility of profitability as well as loss. Please note that you should not assume that any discussion or information contained in this material serves as the receipt of, or as a substitute for, personalized investment advice from Symmetry. 

Symmetry does not provide tax advice. Please note that (i) any discussion of U. S. tax matters contained in this material cannot be used by you for the purposes of avoiding tax penalties; (ii) this communication was written to support the promotion or marketing of the matters addressed herein; and (iii) you should seek advice based on your particular circumstances from an independent tax advisor. 

Investing involves risk, including the loss of some or all of your principal. Diversification seeks to reduce volatility by spreading your investment dollars into various asset classes to add balance to your portfolio. Using this methodology, however, does not guarantee a profit or protection from loss in a declining market. Please check with your firm’s Compliance and/or OSJ for usage requirements.

 


[1] The Advisor Coach, “8 Tips for Attracting UHNW Clients” (as of December 2023)

[2] PwC HNW Investor Survey 2022

[3] Ibid

[4] Spectrum Group Wealth Management Redefined, 2021

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