Displaying items by tag: hnw

Tuesday, 09 July 2024 03:31

Behavioral Finance Can Help HNW Clients

Bias is a huge problem for high-net-worth individuals (HNWIs), with nearly two-thirds   acknowledging that biases influence their investment decisions and 79% seeking relationship managers (RMs) to help mitigate these biases, the need for wealth managers to modernize their profiling tools is more pressing than ever.


 AI-powered behavioral finance offers a sophisticated solution, providing RMs with deep insights necessary for crafting hyper-personalized financial plans, portfolios, and client experiences. 


Traditional demographic profiling methods are inadequate, often leading to incomplete client profiles and unsatisfactory experiences, as evidenced by the same percentage of HNWIs concerned about personalization. Embracing this technology can transform how wealth managers engage with clients, offering tailored advice and capturing a larger share of the HNWI market.

Finsum: Technology is really allowing advisors more flexibility than ever which can help tailor strategies for HNW clients. 

Published in Wealth Management
Wednesday, 12 June 2024 06:16

Partnerships Key to HNW Clientele

For financial advisors specializing in high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients, partnering with an experienced firm is essential. Trying to cater to both general and niche clients can dilute an advisor's effectiveness. 


Vance Barse, founder of Your Dedicated Fiduciary®, exemplifies how leveraging a seasoned partner can enhance client service. With over a decade of experience advising HNW clients, Barse emphasizes the importance of addressing both financial and family dynamics in legacy planning. 


Comprehensive analyses of clients' financial situations and legacy goals, providing independent reports without requiring asset consolidation can help draw HNW clients. This consultative approach offers tailored, sophisticated strategies while maintaining a high level of personal service.

Finsum: Technology can also bridge the gap to give advisors time to personalize their clients experience helping draw in HNW clients.

Published in Wealth Management
Thursday, 23 December 2021 17:38

Biden and Democrats’ New Tax Plan

Biden’s latest $2 trillion stimulus/economic reform bill is stuck in congressional limbo, and that's because not even all Dems are on board. Speaking on behalf of moderates Joe Manchin, Democratic Senator of West Virginia listed an array of suggestions to Biden in order for there to be bi-partisan support. Some of Manchin’s suggestions included means testing and work requirements for expanded child tax credits in order to stop wealthier individuals from taking advantage of the program. Other democratic senator’s ae calling for a smaller corporate tax hike and lower income taxes on weather individuals. Manchin accused staff of adding in provisions that are limiting bi-partisan support, and even having a hard time garnering support in their own party.

FINSUM: The lofty aims of Biden’s original economic reform were a pipe dream, major changes will have to come if they want to have a chance of passing the bill.

Published in Wealth Management


Most advisor attention as it regards Biden’s tax plan has been about increased capital gains taxes and the unwinding of the “step-up basis” in the inheritance of assets. However, there is another major risk and complication on the horizon. That has to do with state level inheritance laws and how they interact with Biden’s plan. The federal government has no formal inheritance tax, but rather an estate tax. States, by contrast, often have inheritance taxes. The big difference between the two is that the estate tax is levied on the estate itself, whereas inheritance taxes are levied on the beneficiaries. That means that each individual is subject to a different level of taxes based on their income.

FINSUM: To be clear, the implications of this are quite large for HNW individuals, as they could face much higher federal estate taxes in addition to high state level inheritance taxes.

Published in Wealth Management

Wealth and investment management are ever-changing, but a new generation of clientele is shifting that landscape even more quickly…see the full story on our partner Magnifi’s site

Published in Wealth Management
Page 1 of 2

Contact Us



Subscribe to our daily newsletter