As well as the demographic information about high net worth individuals (HNWIs) covered in other recent Luxury Reporter articles, the World Wealth Report published in June 2007 by Merrill Lynch and Cap Gemini discusses the wealth management needs and desires of today’s affluent individuals and families.

The report says that the traditional models of wealth management - brokerage, investment management, and wealth planning - are not necessarily the best ways for investment management firms to deliver what HNWIs are seeking today.

“HNWIs are becoming more global in their investment approach, driven by expanded awareness of international developments, portfolio performance and risk mitigation.
HNWIs are increasing the amount of resources and time they apply to philanthropy, treating their charitable pursuits as investments with social returns.
HNWIs have increased demands for socially responsible investment screening, shareholder activism and community–focused investment.”

The report goes on to say that financial services firms need to stay current, and to segment their clients more intelligently than simply looking at the amount of assets under management.

Looking at this from the other direction, it’s important to find a financial services firm which not only has experience managing portfolios of similar size to yours, but which can also advise on the types of investments you wish to make.

OTHER ARTICLES THAT MAY BE OF INTEREST

• Philanthropy worldwide
• Wealthy population growing
• Family offices - a primer
• Wealth around the world
• Passion investment primer