futurewealth 2014 part 1the quest for a valued relationship

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©2012 S The Th va Se Future he q alued rship. All rights ewealth ues d rel reserved | 0 h Repo t for latio ort 201r a nsh 4 ip P Fe art 1 ebruary 2 2014

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How do UHNW and HNW clients choose wealth management brands to work with? How do wealthy investors choose a private bank? This year's first Futurewealth report explores how wealthy individuals research and select the financial firms they work with.

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Page 1: Futurewealth 2014 part 1The quest for a valued relationship

©2012 S

The

Thva

Scorpio Partner

e Future

he qalued

rship. All rights

ewealth

uesd rel

reserved | 0

h Repo

t forlatio

ort 2014

r a nsh

4

ip

PFe

art 1 ebruary 22014

Page 2: Futurewealth 2014 part 1The quest for a valued relationship

©2014 S

FORE One ofservicecomm For bubecominto th Back ivaluabindivid Since tconverlives o In this responhave leimprov Over thFuturethey finwe wilrelation We areWealth We howho ha SebasManagScorpi

Scorpio Partner

EWORD –

f the most poes. Technolounicate their

usinesses acrme an impera

e value prop

n 2009, we lble customerduals were w

then, 13,500rsation. Theif this hard-to

fifth phase onses have enearnt the elevement is ne

he coming mewealthy withnd a providel explore thenship develo

e deeply grath Manageme

ope you find tave shared t

tian Dovey ging Partner io Partnershi

rship. All rights

SCORPIO

owerful movogical and digr experiences

ross all sectoative. Succesposition.

aunched ther group: the w

willing to spea

0 individuals r input has ao-reach grou

of research, wnabled us to ments of the

eeded.

months, we wh their wealther and the pae key touch-pops and wha

teful to SEI fent – for joini

these resultstheir experien

ip

reserved | 1

O PARTNER

ements of thgital advances with differe

ors, monitoriss or failure i

e Futurewealworld’s wealtak openly ab

who are on tallowed us toup.

we explore wcreate a ben

eir relationsh

will be releash manager. Inarts of a firm points for cliet it takes for

for their contng us on this

s as fascinatnces with us

RSHIP

his century hes have enaent brands. T

ing, trackings dependent

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bout their live

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who they, thenchmark for ip with their

ing four repon this first pawhich attracents when cathem to rec

tinued suppos exploration

ing as we dos.

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and analysit on an abilit

o amplify the nted to demoes and their w

k to wealth hmpression of

e Futureweathe wealth madvisors tha

orts which chaper, we looct them. Acroarrying out aommend the

ort and also tn.

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customer remers to more

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hart the journk at the procoss the remaa transactioneir provider.

to our new s

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evolution in fieffectively

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r opinion hase client sent

a particularlyhigh-net-wo

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hank all of th

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Page 3: Futurewealth 2014 part 1The quest for a valued relationship

©2014 S

FORE At NPGhelp w What mspeak to achdoing tassura It is in part ofwealthjourneyinsight One ofadvisohave son the their vi We homatterinsuran Marc SChief ENPG W

Scorpio Partner

EWORD –

G, we providwealth manag

makes us undirectly to cieve a high lethis is our be

ance.

this spirit thaf this initiativhy. We not ony, but we alsts, we will be

f the main thor selection pstrong corpo ethos of inteision.

ope that as prs to their clience will be d

Stevens Executive OfWealth Mana

rship. All rights

NPG WEA

de wealth magers and priv

nique is that wustomers abevel of custoelief amplifyi

at we became because itnly want to kso want to une better serve

hemes revealprocess. It hirate values aegrity, respe

art of this prents. We gen

decided by th

fficer agement

reserved | 2

ALTH MAN

anagement svate investors

we do not jubout their peromer orientatng the custo

me a partner t is focused oknow what thnderstand wed to enhanc

led in this paghlights that

as well as effect and produ

roject, other nuinely believhe customer.

NAGEMEN

solutions thros to achieve

ust partner wrsonal prefertion at every

omer voice c

in this year’son understanhey think abo

what they trulyce and strea

aper is the imt clients wanfective wealtuct excellenc

organisationve that the fu.

T

ough life assulasting succ

ith a numberrences and f

y step of our an create a r

s Futurewealnding the evoout their weay value from

amline their e

mportance ofnt to engage th solutions. ce, we believ

ns will seek touture of wea

urance. Our cess.

r of intermedinancial requvalue chain. refreshing ap

lth project. Wolving needsalth managem their adviso

experiences.

f a firm’s repwith wealth Having founve we are we

o learn morealth and the f

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We are prouds of the worldment customors. Through

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nded our busell placed to

e about whatfuture of life

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t really

Page 4: Futurewealth 2014 part 1The quest for a valued relationship

©2014 S

FORE SEI is world. relevanenhanc This isyear’s toucheengag In this wealthmanagsome cjourneyevery s The reand obensure Many oorganitechnoexperie Alfred ChairmSEI

Scorpio Partner

EWORD –

a leading gloWith them, w

nt but also ece the custo

s now our fiftsurvey focus

es on pertineing with thei

first paper, wh managemegers are delivclient segmey. The challesingle client,

port also higbjectives. The that custom

of these themsations who

ology, and paence.

P. West, Jr. man and Chie

rship. All rights

SEI

obal providerwe share a m

efficient and eomer experie

h year sponsses on the th

ent questionsr wealth man

we gain uniqnt advice. It vering a goodents expect aenge for wea in spite of th

ghlights that is demonstra

mer experien

mes resonatare looking

articularly its

ef Executive

reserved | 3

r of solutionsmutual commexciting for cnce.

soring the Fuheme so closs for wealth mnagers and w

que insight inis encouragid experiencea comprehenalth managerhese differen

clients tend ates the neece delivery is

e with the dito improve t

s ability to ha

Officer,

s to wealth mmitment to pclients. We a

uturewealth pse to our heamanagemenwhat makes

nto the psyching to learn te in the areasnsive servicers is to delivences.

to search fod to collect as maintained

scussions wthe overall exandle custom

managers anrovide servic

are committe

project and warts - the cliet firms everythem truly va

he of the Futthat, on the ws that really

e at every siner a consiste

or advice wheand managed as client re

we have with xperiences o

mer insight, is

d private bances and toolsd to develop

we are delighent experiencywhere: how alue their adv

urewealthy awhole, clientmatter. But w

ngle step of tnt customer

en formulatin meaningful quirements e

wealth manaof their clientss the basis fo

nks around ts that are noping new way

hted that thisce. This researe clients visor.

as they searcts feel their wwe also find the customeexperience

ng personal gclient data tevolve.

agement s. We believor delivering

the ot only ys to

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goals o

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Page 5: Futurewealth 2014 part 1The quest for a valued relationship

©2014 S

INTRO This yecomingduring Our foFutureout traonce trecom So, witwhy thfactors These know twealth Intens The Funumeradviceindepe Time A quarwith a Changrelationprovidor prom The v To reawhich followe But it iprospejust a 2

Scorpio Partner

ODUCTION

ear’s Futurewg months, w their relation

ur papers wiewealthy to aansactions whe honeymomend their a

thout furtherhe world’s ms that are mo

findings arethem as the

h curve with a

sive invest

uturewealthyrous avenuese of friends oendent marke

to get per

rter of the weformer finan

ging personanships amoner when buymotion.

value of va

ally impress tcombines vaed by produc

s the wealthective partne20% differen

rship. All rights

N

wealth serieswe will be ask

nship with an

ill map phasea particular wwith a firm. Ouoon period isadvisor to frie

r ado – we wost affluent iost importan

based on thFuturewealthan average w

igators

y are still deris for introduc

or family befoet research.

rsonal

ealthiest Futuncial provider

al circumstanng this globaying a home,

lues

hese global alue and valuct and servic

hiest of the Fers. They wantial between

reserved | 4

s is all about king the worln advisor.

es of this cuswealth managur third pape over. And fiends and fam

welcome you individuals st to them wh

he views of ahy because, worth of US$

ving a finite ction and invore making aThe remaind

urewealthy for.

nces are alsoal group. On

while the sa

go-getters, tues. A firm’sce fees with a

uturewealthynt a providern the firm’s re

the wealth md’s money m

stomer journger. Then, weer will questionally, we examily.

to our first pearch for rel

hen choosing

a group of 3,0as a group,

$2.9 million. T

formula for fvestigation. Aa selection wder use a var

ound their cu

o a significanaverage, 20%

ame proporti

the world’s ms reputation ha score of 64

y who are ser who can imeputation an

managementmakers to ex

ney. Firstly, we ask what con how to keamine wheth

paper. Here wationships wg firms.

025 individuthey are leadThis is what

finding a weaApproximatehile almost ariety of sourc

urrent money

t driver for s% of the Futon looked fo

money manahas an impor4%.

etting the barmpress acrosnd its social m

t client expeplain what th

we consider wcounts when eep the relather the Future

we have uncwith wealth m

als from acroding the spriwe have fou

alth managely 24% of th

a fifth conducces – both on

y manager a

tarting wealturewealthy s

or a firm durin

agers must prtance score

r even higherss the board;media activit

erience. Overhey really va

what attract they are carionship spar

rewealthy wo

covered how managers. An

oss the globint up the glo

und:

r. They purshem seek outct their own n and offline

after heartbre

th managemsought out ang a career c

present a culte of 74%, clo

r for their ; in fact, therty.

r the lue

s the rrying rk alive ould

and nd, the

e. We obal

ue t the

.

eak

ent a change

ture osely

re is

Page 6: Futurewealth 2014 part 1The quest for a valued relationship

FutureThe que

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ONE’SECO There and m For thesometknow h The scpath to Of coueasy toneeds With thgreat cevery p In this Futurecatch t

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he grnes y

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ve years agoorld’s wealthdividual achi

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S FIRST LOND LOVE

is no bluepriutual attract

e lucky oneshing goes whow it happe

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urse, the woro woo. In theare unique a

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first paper, wewealthy go atheir eye.

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reateyou n

o, we began ohiest individuevements to

spoke to 3,02ement experroviders who

uturewealthys and value. ng for more o

LOVE IS ALE

int for the peion. Courtsh

s these feelinrong. The reened. What t

sound like therfect wealth

rld’s wealthiee five years tand their sta

over the comwith these gloeir relationshi

we will consabout finding

reserved | 5

est reneve

our Futureweals. In this tim

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25 of the gloriences. Theio can enhanc

y are attracteAmongst theof an all-roun

LWAYS PE

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he tribulationh manager. T

est individuahat we havendards are h

ming monthsobal go-gettip with a wea

ider the explg a wealth m

elatioer exp

ealth projectme, we haveapproaches

obal elite to uir responses ce their lives,

ed to wealth em, it is the nder, who ca

ERFECT U

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NTIL ONE

, it starts witnfatuation, ex

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urewealthy, ang their livesakes them ve

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ps ared to

the hearts am about everyest desires to

how they reat they are stiheir wealth.

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MEETS O

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also describremarkably

as we know ts, we have leery hard to im

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re tho be

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ally feel abouill very much

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Page 7: Futurewealth 2014 part 1The quest for a valued relationship

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©2014 S

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Page 8: Futurewealth 2014 part 1The quest for a valued relationship

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©2014 S

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rica’s elite ha2013. In Euroe expectatio

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reserved | 7

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erformance world’s well-

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Page 9: Futurewealth 2014 part 1The quest for a valued relationship

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Page 10: Futurewealth 2014 part 1The quest for a valued relationship

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Page 11: Futurewealth 2014 part 1The quest for a valued relationship

FutureThe que

©2014 S

A MEIF TH So, likethe hu“perfec When love abinquisi Often, seek osystemcredenor fam The reresearc The we11% o The Fudeepemany p Most ielite tyless th ClearlyInstead

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EETING OFERE IS A R

e highly charnt for fresh pct collision”

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mily [Figure 5]

mainder usech to referra

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NALITIES ISN, BOTH A

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EMICAL SUD

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Page 12: Futurewealth 2014 part 1The quest for a valued relationship

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Figure 5: The d

many firms did yo

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decision making

u consider working

you first introduce

Through

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al from a trusted ad

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g universe of th

<US$500,00US$500,000-US$2

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g with before you

ed to your primary

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relationship manag

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rom another part of

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he Futurewealt

00: 2.22m: 2.7 4m: 4.2 + : 6.0

made your selectio

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mily or friend: 24%

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er at the firm: 12%

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ent at the firm: 6%

thy

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average, their main This rise

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total investable weo 45.5% in Asia Pac

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Page 13: Futurewealth 2014 part 1The quest for a valued relationship

FutureThe que

©2014 S

IN TH The stomanag Back iFuturehighlig The glocustommanag Considactuallvalue. Reputafolloweprized So mua firm Traditinot berounderelevan It all shthey pconsis

ewealth Repoest for a valued

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HE END, TH

ory so far is ger. How the

n 2011 we dewealthy to teghted both st

obal contextmer experiengement journ

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ation – the fued by producrelationship

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that the woren, can firms

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e Futurewear hard-earneds the board.

reserved | 12

YOU TAKE

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Page 14: Futurewealth 2014 part 1The quest for a valued relationship

FT

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Futurewealth RepoThe quest for a valued

©2014 Scorpio Partne

Figure 6: Startin

When considering a

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ng a new relati

a wealth manager t

ved | 13

onship: Import

to look after your fin

tance Index

nancial affairs, howw important are the following factors? ((Wealth segmentedd responses)

Page 15: Futurewealth 2014 part 1The quest for a valued relationship

FutureThe que

©2014 S

The go90% bbelieve While tless thdemon

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ewealth Repoest for a valued

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ood news is tbelieve their fe their wealth

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that wealth mfirm has a goh manager d

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alth manager

reserved | 14

managers arood reputatiodelivers a goo

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Page 16: Futurewealth 2014 part 1The quest for a valued relationship

FutureThe que

©2014 S

THE L The lawwhile na valua At the lengthsexhaus They aReputathat ca There the rem In our providand co

ewealth Repoest for a valued

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LAWS OF

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end of this fs to find a pestive in their

are searchingation is key; an demonstr

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ATTRACT

tion state thaergy will appefor wealth ma

first chapter werfect partnequest and m

g for a providso are costsate value ac

mong the woey are upping

we will pick consider exacwith the Futu

reserved | 15

TION

at “like attraceal to only neanagers eve

what is appaer – and theymany have co

der who can s. But what tross a numb

orld’s well-heg their expec

up this threactly what it taurewealthy to

cts like”; posegative enerrywhere.

arent is that ty are still on tollected num

understand he really hig

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Page 17: Futurewealth 2014 part 1The quest for a valued relationship

FutureThe que

©2014 S

ABOU ScorpScorpiinto prfirm haWith thbusine

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