Client retention strategies for the next wealthy generationDatamonitorSeptember 6, 2004 20 Pages - SKU: DFMN1047411 |
Assesses the extent to which wealth managers currently manage relationships with wealthy offspring, analyses current innovative initiatives for holding onto client wealth and identifies the strategies that wealth managers need to employ in order to ensure that this money remains under their management. Scope Primary interviews with 7 industry executives including Managing Directors and Marketing Managers Geography: Asia, Europe and the USA Highlights Strategies employed by private banks fall into those that constitute operating expenses and those that directly earn revenue. A number of 'enlightened' institutions are increasingly realizing that they do not have the time nor the resources to organize the whole breadth of educational initiatives that clients are demanding. This has led to private banks outsourcing many education and training requests from wealthy families. Example of sporting and social events: In Spain, Banif organizes golf and horse-riding tournaments for wealthy families. Example of educational events: Citigroup Private Bank organizes conferences to encourage debate and thought on the issue of protection of wealth to engage with the children of wealthy families. Reasons to Purchase Learn about competitive practices around the world and develop best practice strategy for your organization Identify a range of key strategic considerations and actions needed to deepen relationships and enhance share of wallet |
