Published on March 4, 2014
The Future e ewealth Repo 2014 h ort 4 he r Th quest for a va d rellationship alued Part 1 Fe ebruary 2 014 ©2012 S Scorpio Partner rship. All rights reserved | 0
FORE EWORD – SCORPIO PARTNER O RSHIP One of the most po f owerful movements of th century has been the customer re his evolution in fi inancial es service Technolo es. ogical and dig gital advance have enabled custom mers to more effectively communicate their experiences with differe brands. Their words wield immen power. r s ent T w nse For bu usinesses acr ross all secto monitoriing, tracking and analysing customer opinion has ors, r s becom an impera me ative. Succes or failure i s dependent on an ability to integrate client sentiment ss t e into the value prop position. Back in 2009, we launched the Futureweal th project to amplify the opinions of a particularly e o y valuab customer group: the world’s wealt ble r w thy. We wan nted to demo onstrate that high-net-wo orth individ duals were w willing to spea openly ab ak bout their live and their wealth. es w Since t then, 13,500 individuals who are on t fast track to wealth have been pa of the 0 the h art conver rsation. Their input has allowed us to create an im a o mpression of the persona and profes f al ssional lives of this hard-to o-reach grou up. In this fifth phase o research, we explore w they, the Futurewealthy, are as c of w who e customers. Their T respon nses have en nabled us to create a ben nchmark for the wealth management experience. We m t . have le earnt the elements of the relationsh ip with their advisors tha are valued , and where eir at improv vement is ne eeded. Over th coming m he months, we will be releas ing four repo which ch the journ of the w orts hart ney Future ewealthy with their wealth manager. In this first pa h h n aper, we look at the proc cesses by wh hich they fin a provide and the pa of a firm which attrac them. Acro the rema nd er arts ct oss aining three papers, p we will explore the key touch-p e points for clie ents when ca arrying out a transaction , how the relation nship develo and what it takes for them to recommend the provider. ops eir We are deeply grat e teful to SEI for their cont f tinued suppo and also to our new s ort t sponsor – NP PG Wealth Manageme – for joining us on this exploration h ent s n. We ho you find t ope these results as fascinat ing as we do and we wo s o, ould like to th hank all of th hose who ha shared t ave their experien nces with us s. Sebastian Dovey Manag ging Partner Scorpi Partnershi io ip ©2014 S Scorpio Partner rship. All rights reserved | 1
FORE EWORD – NPG WEA ALTH MAN NAGEMENT At NPG we provid wealth ma G, de anagement s solutions thro ough life assu urance. Our principle goal is to help w wealth manag gers and priv vate investors to achieve lasting succ s cess. What m makes us un nique is that we do not ju partner with a number of intermed w ust r diaries; we al lso speak directly to customers ab bout their per rsonal prefer rences and financial requ uirements. We aim W to achieve a high le evel of custo omer orientat tion at every step of our value chain. Our motivat y tion for doing t this is our be elief amplifying the custo omer voice can create a refreshing ap r pproach to life assura ance. It is in this spirit tha we becam a partner in this year’s Futureweal project. W are proud to be at me s lth We d part of this initiative because it is focused o understan f t on nding the evo olving needs of the world s d’s wealth We not on want to know what th think abo their wea managem hy. nly k hey out alth ment custom mer journey but we als want to un y, so nderstand w what they truly value from their adviso Through these y ors. insight we will be better serve to enhanc and strea ts, e ed ce amline their experiences. e One of the main th f hemes reveal in this pa led aper is the im mportance of a firm’s rep utation in the f e adviso selection p or process. It highlights that clients wan to engage with wealth institutions that t nt t have s strong corporate values as well as eff a fective wealt solutions. Having foun th nded our bus siness on the ethos of inte egrity, respe and produ excellenc we believ we are we placed to deliver ect uct ce, ve ell their vi ision. We ho that as part of this pr ope roject, other organisation will seek to learn more about what really ns o e t matter to their clie rs ents. We gen nuinely believ that the fu ve uture of wea and the f alth future of life insuran will be d nce decided by th customer. he . Marc S Stevens Chief E Executive Of fficer NPG W Wealth Mana agement ©2014 S Scorpio Partner rship. All rights reserved | 2
FORE EWORD – SEI SEI is a leading glo obal provider of solutions to wealth managers and private ban around the r s m nks t we m mitment to provide servic and tools that are no only ces s ot world. With them, w share a mutual comm relevan but also e nt efficient and exciting for c e clients. We are committed to develop a ping new way to ys enhanc the custo ce omer experience. s soring the Fu uturewealth project and we are deligh p w hted that this s This is now our fifth year spons year’s survey focus on the th ses heme so clos to our hea - the clie experienc This rese se arts ent ce. earch es ent s management firms every ywhere: how are clients touche on pertine questions for wealth m visor. engaging with their wealth man nagers and w what makes them truly va alue their adv In this first paper, w gain uniq insight in the psych of the Futurewealthy a they searc for we que nto he as ch h t w ts w wealth management advice. It is encouragiing to learn that, on the whole, client feel their wealth manag gers are deliv vering a good experience in the areas that really matter. But w also find that d e s we some c client segme ents expect a comprehen nsive service at every sin e ngle step of t customer the journey The challe y. enge for wea manager is to delive a consistent customer experience to alth rs er every s single client, in spite of th hese differen nces. ghlights that clients tend to search fo advice whe formulatin personal goals or en ng g The report also hig and ob bjectives. This demonstra ates the nee d to collect and manage meaningful client data to a ensure that custom experience delivery is maintained as client requirements e e mer s d evolve. of mes w agement Many o these them resonate with the di scussions we have with wealth mana organisations who are looking to improve t overall ex the xperiences of their clients We believ that o ve s. ology, and pa articularly its ability to ha s andle custom insight, is the basis fo delivering that mer s or techno experie ence. Alfred P. West, Jr. man ef Chairm and Chie Executive Officer, SEI ©2014 S Scorpio Partner rship. All rights reserved | 3
INTRO ODUCTION N This ye ear’s Futurew wealth series is all about the wealth management client expe s m t erience. Over the r coming months, w will be ask g we king the worl d’s money makers to explain what th really value m hey during their relation nship with an advisor. n ill es stomer journ ney. Firstly, we consider w w what attracts the Our four papers wi map phase of this cus ewealthy to a particular wealth manag Then, we ask what counts when they are car w ger. e c rrying Future out tra ansactions w a firm. Ou third pape will questio how to ke the relat ionship spar alive with ur er on eep rk once the honeymo period is over. And fi nally, we exa oon amine wheth the Future her rewealthy wo ould recommend their a advisor to frie ends and fam mily. So, wit thout further ado – we welcome you to our first paper. Here we have unc r w p w covered how and why th world’s most affluent individuals s earch for relationships with wealth m he i w managers. An the nd, factors that are mo important to them wh choosing firms. s ost hen g These findings are based on th views of a group of 3,0 individuals from acro the globe. We he 025 oss know t them as the Futurewealth because, as a group, they are lead hy ding the spriint up the glo obal wealth curve with a average worth of US$ h an w $2.9 million. This is what we have fou T und: Intens investigators sive The Fu uturewealthy are still deriving a finite formula for finding a wea manage r. They pursue y f alth numer rous avenues for introduc s ction and inv vestigation. Approximately 24% of th A hem seek out the t advice of friends o family befo making a selection while almost a fifth conduc their own e or ore ct indepe endent marke research. The remaind use a var et der riety of sourc – both on and offline. ces n Time to get per rsonal A quar of the we rter ealthiest Futu urewealthy fo ound their cu urrent money manager a y after heartbre eak with a former finan ncial provider r. ging persona circumstan al nces are also a significant driver for starting wealt management o th Chang relation nships amon this globa group. On average, 20% of the Futurewealthy s ng al % sought out a provider when buy ying a home, while the sa ame proportion looked fo a firm durin a career change or ng c or prom motion. The v value of values To rea impress these global go-getters, t world’s money mana ally the m agers must p present a cult ture which combines va alue and valu ues. A firm’s reputation has an impor s h rtance score of 74%, clo e osely followe by produc and servic fees with a score of 64 ed ct ce 4%. But it is the wealth hiest of the Futurewealthy who are se y etting the bar even higher for their r r prospe ective partne They want a provider who can im ers. r mpress acros the board; in fact, ther is ss ; re just a 2 20% differen ntial between the firm’s re n eputation an its social media activit nd m ty. ©2014 S Scorpio Partner rship. All rights reserved | 4
Future ewealth Repo ort: The que for a valued relationship est Th gr est re he reate elationship ar the ps re on y neve exp ed to be in nes you n er pecte o In brief Fiv years ago we began our Futurewe ve o, o ealth project to examine the hearts a minds of the t and f wo orld’s wealth hiest individuals. In this tim we have asked them about every me, e m rything from their ind dividual achievements to investment approaches their deepe desires to digital dealings. o s; est o Th year, we s his spoke to 3,02 of the glo 25 obal elite to understand how they rea feel about their u h ally we ealth manage ement exper riences. Theiir responses indicate that they are stiill very much on the h loo ok-out for pr roviders who can enhanc their lives, as well as their wealth. o ce , Br roadly, the Fu uturewealthy are attracte to wealth managers who are able to demonstr y ed w rate a ble of values and value. Amongst the it is the wealthiest th are the ha em, end s hat ardest to impress. nder, who ca excite the both on a offline. Th are lookin for more of an all-roun hey ng o an em and ONE’S FIRST L LOVE IS AL LWAYS PE ERFECT UNTIL ONE MEETS O ONE’S OND LOVE E SECO There is no bluepri for the pe int erfect relation nship. Often, it starts with just a look an initial int , k; trigue and mutual attraction. Courtship ensues, fo ollowed by in nfatuation, ex xcitement an commitm nd ment. For the lucky ones these feelings last for ye e s ears – perhaps entire live For the re es. emainder, something goes wrong. The result: disappo ointment, hu – even bet urt trayal and an nger. They may not m know h how it happe ened. What they do know is that the will think a bit more ca t w, ey arefully in the future. e The sc cenario may sound like th tribulation of romantic love, but it also describ the emotional he n c bes path to finding a perfect wealth manager. T feelings involved are remarkably similar. o h The Of cou urse, the wor rld’s wealthie individua ls – the Futu est urewealthy, as we know t a them – are not that easy to woo. In the five years that we have been trackin their lives we have le o e e ng s, earnt that the eir needs are unique a their standards are h and high. This ma akes them ve hard to im ery mpress. With th in mind, o his over the com ming months we will be th hinking abou the ingrediients for fost ut tering a great c connection w these glo with obal go-gett ers. In this year’s survey, we have as y sked them ab bout every p phase of the relationshi with a wea manager to illustrate their ideal ‘c eir ip alth e customer jou urney’. In this first paper, w will consider the explloratory part of this voyag We ask e we ge. exactly how the Future ewealthy go a about finding a wealth m g manager they love. And, what it really takes for a firm to w f catch t their eye. ©2014 S Scorpio Partner rship. All rights reserved | 5
Future ewealth Repo ort: The que for a valued relationship est STRA ANGERS A JUST NEW REL ARE LATIONSHIPS WAITIN TO HA NG APPEN When it comes to w wealth mana agement, it is no secret that the Futurewealthy ar not s re monog gamous. The industry ma go to grea lengths to court these global mone e ay at ey-makers but their rtners. minds remain open to affairs with other par n w On ave erage they have three or four working relationship each. To an extent, th collection is a g ps his n lifestyle choice. Aft all, the old adage abo putting all your eggs in one baske can be no more ter out et pertine than for t ealth curve. ent those at the top of the we t But ma aybe this mu ultiplicity is also indicative of somethi else. Perhaps these c e ing clients have amass so many providers be sed ecause they are in search of a more valued relati onship. This is worth mullin over, give that highly s ng en y-valued cus stomers of th future are working with the he h largest number of investment providers [Fig t p gure 1]. Inde eed, Asia’s em merging wea althy co-ordinate with an average of five wealth managers; w n f while establis shed America have jus two. ans st Moving up the ladd of wealth we also se a compuls g der h, ee sion to collec confidante Money makers ct es. m with ov US$4 million have four more prov ver viders than those in the lowest wealth bracket. h Figure 1: Numb of inves e ber stment pro oviders use ed How m many providers do you curr s rently work wit regarding your personal investments? th y ? Europe e A Asia-Pacific c Americas s 2.1 4.8 3.2 Global 6. .5 US$4m+ + 4. .4 US$2m-USD4m 2. .5 US$500,000-USD2m m 2. <US$500,000 .1 ©2014 S Scorpio Partner rship. All rights reserved | 6
Future ewealth Repo ort: The que for a valued relationship est It woul not be tha surprising if the Future ld at ewealthy are looking for a more cheris shed relation nship, given t their wealth-assessment. Each year w examine their wealth confidence – that is, the we e difference between the proport n tion of them who made money last year and the proportion who m y w expect to make mo t oney over the next 12 mo onths. We co ontinually find that their performance outlook outs d strips reality [Figure 2]. In fact, there is a n i unanim mous feeling among the world’s wellw -heeled that more is poss sible with the wealth. eir For ins stance, Amer rica’s elite ha hiked up their foreca for 2014 by 7 points, despite relat ave p ast b tively sluggis gains in 2 sh 2013. In Euro and Asia where perfo ope a ormance pred dictions have been modified for e the yea ahead, the expectations still excee lived expe ar e ed erience. Figure 2: Wealth confiden index e nce To wha extent has t wealth co at the onfidence of th Futurewea he althy changed in the last 12 months? d 2 (Region nally segment responses) ted ©2014 S Scorpio Partner rship. All rights reserved | 7
Future ewealth Repo ort: The que for a valued relationship est HAPP PINESS IS HAVING A DREAM Y YOU CAN NNOT LET GO OF AN A PART ND TNER WHO WOULD NEVER AS YOU TO O SK O For mo of us, the deepest de ost e esires of our imagination will forever remain beyo nd the horizo But r on. among the Futurew g wealthy, drea ams are as ta angible as bricks and mo ortar. And, th use ever hey ry possib tool at the disposal to build them ble eir t m. Many o these con of nfident constructors know they need support to make dreams a reality. Th rely w m s hey on an architect wh understands their lives and who ca create the scaffolding for their suc ho s an e g ccess. This is the role of t wealth manager. From the very first moment, it is the life g s the m m goals of the Future ewealthy whic shape the relationsh ch eir hips. Looking at the circu g umstances w which lead the to a em provider, diversification is impo ortant but pe ersonal ambitions play a key supportiing role [Figu 3]. ure Around the world, we find thos in Asia to be most swa d se ayed by indiv vidual circum mstances. Th he slighte tinkle of w est wedding bells is enough t put them in pursuit of a wealth ma s to anager. Personal experie ences, partic cularly promo otions and p purchasing property – als encourage Europeans to so e s start th hunt. he Figure 3: Circum e mstances leading to a wealth manageme relation m ent nship Were th here any specific circumstances that led you to sear for a relationship with y d rch your main wea alth management firm? ( (Regionally se egmented res sponses) ©2014 S Scorpio Partner rship. All rights reserved | 8
Future ewealth Repo ort: The que for a valued relationship est But ne estled in with these broad lifestyle fac h d ctors is some ething altoge ether more siinister. That is, the specte of relations er ships past. A quar of those leading the sprint up the wealth curv were inspired to look f a wealth rter s e ve for manag because they have ex ger xperienced h heartbreak with a former provider [Fig w gure 4]. So how did it all go wrong? The broad blen of w o nd circum mstances cite by those with over US million ed w S$4 indicat that form providers have either failed to tes mer s pting to unders stand or have been incap e pable of adap their clients’ chang ging objectives. #FW2014 A third of t 4 those worth over US$4 million started searching fo a or wealth manager whe they purch m en hased a new ho ome. As suc these priz patrons have shimm ied off elsew ch, zed where. They take with the a bitter ta t em aste of failure and a strong sense of what they willl not be willin to tolerate in the futur g w ng e re. Figure 4: Circum e mstances leading to a wealth manageme relation m ent nship Were th here any specific circumstances that led you to sear for a relationship with y d rch your main wea alth management firm? ( (Wealth segm mented respon nses) ©2014 S Scorpio Partner rship. All rights reserved | 9
Future ewealth Repo ort: The que for a valued relationship est A ME EETING OF PERSON F NALITIES IS LIKE THA OF CHE S AT EMICAL SU UBSTANC CES: IF THERE IS A R REACTION BOTH A TRANS N, ARE SFORMED D So, like highly char e rged particle careening through the ionosphere, the Futurew es , wealthy rema on ain the hunt for fresh p partners for collaboration Their beha c n. aviour indicat that they are in searc of a tes y ch “perfec collision” that can enh ct hance their liv and drive them forwa ves ard. When we asked th hem about th mechanics of finding their main we he s t ealth manage – whom th er hey love ab bove all othe – we find the process is not a cas of random attraction. IInstead, they are ers s se m y inquisitive, investig gative and ex xhaustive in t their mission to discover a flawless fr n r friend. Often, these worldly-wise weal creators lth seek o opinion from within their own solar o system as a guide. A quarter of them seek m . o creden for their choice by ta nce alking to frien nds or fam [Figure 5]. mily #FW2 2014: On ave erage, their m main wealth provider manages half of thei r total invest s table wealt This rises to 60.4% in the America th. s n as and falls to 45.5% in Asia Pac f % cific. The remainder use a variety of sources to m e make their acquaintance: from indep pendent mark ket researc to referra and from a relationshi p manager or trusted counsel. ch als o The we ealthiest of the lot are the most intrep gaining their insight through new frontiers. Actually, e pid; t w A 11% o those wort over US$4 million foun their weal manager in cyber spa of th 4 nd lth ace. The Fu uturewealthy are also exp y ploratory in t their fact-find ding. Unders standably, th ey are keen to deepen intelligence about the possibilities of their finan e ncial universe They do th by talking to as e. his g many p providers as possible – on average, t s o three to four firms - before making a selection. Most intent on this mission of discovery are those at th top of the wealth pyra s d e he amid. These global g elite ty ypically spea to six wealth managers before their decision is made. By c ak s contrast, thos with se less th US$500,000 only weigh up two fiirms prior to selection. han Clearly the Futurewealthy have not yet der y, e rived a finite formula for finding their perfect partner. f Instead their ques for the righ relationshi p relies on th own inte d, st ht heir ensive invest igation. ©2014 S Scorpio Partner rship. All rights reserved | 10
F Futurewealth Repo ort: T quest for a valued relationship The F Figure 5: The d decision making universe of th Futurewealt g he thy Global: Global: 3.6 G How many firms did yo u consider working with before you made your selectio g on? <US$500,00 2.2 00: US$500,000-US$2 2m: 2.7 US$2m-US$4 4m: 4.2 US$4m + : 6.0 Europe 3.2 Americas 2.1 How were you first introduce to your primary wealth manager? ed Referral from fam or friend: 24% mily Through my own research o the market: 17% of Through a relationship manager at the firm: 12% Asia Pacific 4.6 Referra from a trusted advisor (e.g. attorney, accountant): 11% al , Other: 9% Through the webs of the firm: 8% site rom another part of the business: 8% f Referral fr In response to an a advertisement: 6% Referr from another clie at the firm: 6% ral ent Percentage of clie ents introduced through the websi ite <US$500,000: 5.7% US$500,000-US$2m: 3.9% US$2m-US$4m: 10.0% US$4m +: 11.3% On average, their main wealth provider ma anages half of their total investable we ealth. This rise to 60.4% in the A es Americas and falls to 45.5% in Asia Pac o cific. © ©2014 Scorpio Partnership. All rights reserv ved | 11
Future ewealth Repo ort: The que for a valued relationship est IN TH END, TH LOVE YOU TAKE IS EQUA TO THE LOVE YO MAKE HE HE Y E AL OU The sto so far is that the wor ory rld’s Futurew wealthy go to great length to pursue the right we o hs ealth manag How the can firms impress the global go ger. en, ese o-getters? Back in 2011 we d devised a rep plica of the w wealth manag gement custo omer journey and asked the y Future ses ewealthy to te us about their experie ell t ences with th provider. The respons we received heir highlig ghted both st trengths and weaknesse s in the prop d position. The glo obal context has change dramatica in the last two years. And so, we revisit the no t ed ally otion of ripled the nu custom experien mer nce. This time we have tr e, umber of touc ch-points in the wealth manag gement journ to gain greater insigh into what these global go-getters re ney ht t really care ab bout. Consid dering just th pre-purch he hase phase o this voyage – that is, th point befo the relatio of e he ore onship actuall begins - w find that th world’s m ly we he money maker are hanker rs ring after a b blend of values and value. Reputa ation – the fu undamental character of an organization – is para c amount to th hem. This is closely c followe by produc and servic fees. To th Futurewealthy, these are the signp ed ct ce he posts toward a ds prized relationship. So mu so, that r uch respondents with an aver rage worth le than US$ ess $500,000 giv the reputa ve ation of a firm an average importance score of 83% while cost get 70% [F s %; ts Figure 6]. Traditional marketi tools – bo on and o ing oth off-line – may be of lower overall sign y r nificance but should not be disregarded entirely. In fact, our mo successfu money ma e d ost ul akers are loo king for an alla rounde They give social medi an importa er. e ia ance score of 39%, making it only 20 notches les o 0 ss relevan to them th reputatio nt han on. It all sh hows that the Futurewea althy are start ting to expec more from their money managers. Before ct m y they part with their hard-earned cash, they want to kno that their service prov r d y ow vider can deliver consis stently across the board. s ©2014 S Scorpio Partner rship. All rights reserved | 12
F Futurewealth Repo ort: T quest for a valued relationship The F Figure 6: Startin a new relationship: Import ng tance Index W When considering a wealth manager t look after your fin to nancial affairs, how important are the following factors? (Wealth segmented responses) w d © ©2014 Scorpio Partnership. All rights reserv ved | 13
Future ewealth Repo ort: The que for a valued relationship est The go news is t ood that wealth managers ar delivering in the areas where it reallly counts. Almost m re A 90% b believe their f firm has a go reputatio while 76% are happy with costs. O average, 68% ood on % On believe their wealth manager delivers a goo performance in this pre-purchase phase. e h d od e While t this means the majority of clients are happy, it also highlights that a signiificant number are o e s less th pleased. In particular their respo han r, onses show that wealth providers are yet to p e demon nstrate their marketing ex xpertise. And they are fu d, urther still fro taking it t a social le om to evel. Figure 7: Startin a new relationship Performa e ng p: ance score e your main wea manager provide a goo performan in this area? alth od nce Does y ©2014 S Scorpio Partner rship. All rights reserved | 14
Future ewealth Repo ort: The que for a valued relationship est THE L LAWS OF ATTRACT TION The law of attract ws tion state tha “like attrac like”; pos at cts sitive energy will draw on positive energy, nly while n negative ene ergy will appe to only ne eal egative energy. It is a sim mple rule, bu one that pr ut resents a valua able lesson f wealth ma for anagers eve rywhere. At the end of this f first chapter what is appa w arent is that the world’s wealthy are g t w going to grea at lengths to find a pe s erfect partne – and they are still on the hunt. The global go er y t ese o-getters are e exhaus stive in their quest and many have co m ollected num merous provid ders on the w way. They a searching for a provid who can understand their changing personal circumstanc are g der ces. Reputa ation is key; so are costs But what t he really high-value clien are pining for is a partner s. nts g that ca demonstrate value across a numb of service areas. an ber e There is a sense am mong the wo orld’s well-he eeled that th start of the relationship sets the tone for he e p the rem mainder. The are upping their expec ey g ctations. In our next paper, we will pick up this threa to discuss the evolutio of their int ad s on nteraction wit their th provider. We will c consider exac what it ta ctly akes to deliv a great ex ver xperience wh connecting hen and co ollaborating w the Futu with urewealthy to deliver a se o ervice that meets their ne m eeds. ©2014 S Scorpio Partner rship. All rights reserved | 15
Future ewealth Repo ort: The que for a valued relationship est ABOU THE PA UT ARTNERS pio rship Scorp Partner Scorpi Partnershi is a pionee in the art o translating the comple needs of w io ip er of g ex wealthy clien nts into pr ractical, inno ovative and profitable solu p utions to targ these customers. Th is award-win get nning firm ha developed client insight from thou as d usands of millionaires and billionaires around the world. d s nsulting and With th knowledg the firm has impleme his ge, h ented strategic research, practical con busine innovatio projects in over 35 cou ess on n untries. NPG Wealth Ma anagemen nt NPG W Wealth Mana agement is a leading prov opean cross-border life a assurance so olutions vider of Euro standin for excellence, trans ng sparency and complianc in the (Ultra) High Ne Worth an High d ce et nd Affluen business. nt NPG W Wealth Mana agement’s op perations are based in Lu e uxembourg, Ireland, Gibr raltar and Be ermuda. From these 4 jurisdictions, th Group pr he rovides com mpliant wealt managem th ment solution with ns active presence across 11 core Pan-European markets. Over the ye ears, NPG Wealth Manag gement has built a solid reputation of service excellence with its insura d e w ance interme ediaries and clients with in excess of 5 billion euro of assets under mana n os agement. Fo more information, or visit ww ww.npgwm.com SEI SEI (NA ASDAQ:SEIC is a leadin global pro C) ng ovider of inve estment proc cessing, fund processing and d g, investm ment management busin ness outsour rcing solution that help corporations financial ns c s, nage wealth. As of institut tions, financial advisors, and ultra-hig gh-net-worth families cre h eate and man Decem mber 31, 2013, through it subsidiarie and partnerships in which the com ts es mpany has a signific cant interest, SEI manages or adminiisters $559 billion in mutual fund and pooled or b d separa ately manage assets, including $232 billion in as ed 2 ssets under managemen and $327 billion m nt b in clien assets und administration. For m nt der more informa ation, visit ww ww.seic.com m. Important Information t All graphic and image mate in this report ar sourced by and to Scorpio Partners cal erial re ship. ons d d ment Company sub bsidiaries and affilia according to lo ates ocal regulatory requ uirements. SEI solutio may be offered internationally by different SEI Investm This material has not been a approved by any of the SEI subsidiarie or affiliates as a financial promotion or marketing comm es f munication for any prospective investor. T information con The ntained in this docu ument has not been independently ve n erified by SEI or any legal entity of the S Group of Comp SEI panies. This docu ument is not intende in any circumsta ed ances as an offer o solicitation to sub or bscribe for or acquire any securities orr sale of any securit in any ties jurisdiction n. The conte of this Futurewe ent ealth report is intend solely to provid general guidance to the reader of these pages on the services offered by NPG ded de e b Wealth Ma anagement Group, its subsidiaries and affiliate companie The information contained within th es. n hese pages is not iintended as an offe or er solicitation for the purchase o sale of any life assurance product. Neither is the information intended to constitute any form of legal, fiscal or investment n or m advice and it should therefor be used only in conjunction with ap re c ppropriate professio advice obtained from a suitable q onal qualified professiona source. al alth Group, its affiliated companies and sub c bsidiaries does not guarantee that the information contaiined within these pages is e NPG Wea Management G complete, accurate or up to date.NPG Wealth Management Grou therefore expres disclaims any and all liability to any person in respect of any , up ssly a y t cause or c consequence of an nything, done or om mitted to be done w wholly or partly in re eliance upon the wh or any part of tthe contents of the Scorpio hole e Partnershiip Futurewealth rep port. ©2014 S Scorpio Partner rship. All rights reserved | 16
The 2014 Futurewealth Report Part 1: The quest for a valued relationship
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FUTUREWEALTH 2014 – THE QUEST FOR A VALUED ... HNWs choose wealth advisors - Futurewealth ... really value during a wealth management relationship with ...
Strategic Leadership and Decision Making. 15. VALUES AND ETHICS. ... THE QUEST FOR ORGANIZATIONAL TRANSFORMATION MUST BEGIN WITH A PERSONAL ...
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QA&TEST will allow you to improve your business network and build relationships with ... part of QA & TEST 2015. QA ... was highly valued by the audiencie ...