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Client retention strategies for the next wealthy generationPublished by: Datamonitor Published: Sep. 6, 2004 - 20 Pages Table of ContentsTABLE OF CONTENTS Introduction 5 Global strategies in practice 6 Sporting and social events 6 Education events 7 Involvement activites 9 Does the Private Banker have a role in suggesting a proper treatment of the inheritance? 11 Analysis and recommendations 14 Further reading 17 Datamonitor Global Wealth Service SPP: Reports 17 Datamonitor Global Wealth Service SPP: Insight Reports 17 Datamonitor Global Wealth Service SPP: Competitor Tracking 18 Related Datamonitor Savings & Investments SPP Reports 18 Datamonitor’s Global Wealth Model 19 SPP writing team 20 AbstractIntroductionAssesses 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 Get Full Details About This Report >> |
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