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How-to-Attract-and-Retain-High-Net-Worth-Clients

Avendus is a leading service provider in the sector of financial planning and advisory in India and worldwide. Along with financial advisory, we also offer services like alternative asset management, wealth management and many more. Consult with the experts for customized solutions in the areas of financial advisory, capital markets, wealth management and alternative asset management.

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How-to-Attract-and-Retain-High-Net-Worth-Clients

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  1. How To Attract And Retain High Net Worth Clients? High net worth individuals are considered to be the most lucrative for the investment advisory firms. These individuals have a substantial amount of wealth and usually, they are in need of comprehensive financial support, as compared to the regular clients who are looking for only routine investment selection. Since high net worth clients are very lucrative, the competition for gaining them is fierce amongst the ​investment advisory firms​. In order to acquire the high net worth clients in such a competitive environment, your firm should have the potential to put forth a unique proposition to the clients. One way the advisory firms can tap into the HNI wealth is by offering customized service that is in accordance with the demands of the high net worth individuals. In addition to offering the customization option, your firm should have the necessary skills to meet the demands of such clients, which are usually more complex than the average client. These clients also expect frequent contact and a greater value out of the advisory firm. All the investment advisory firms that are capable of delivering these things will have a greater chance of getting the ​high net worth clients​. To attract and retain the high net worth clients, the investment advisory firms also have to be prepared to the second-tier and third-tier services, in addition to the usual first-tier offerings. Some of the services included in the second-tier and third-tier include credit and lending, estate planning, custom portfolio creation, and so on. One thing that the majority of high net worth clients are looking for in an advisory firm that has an expertise on inheritance planning. The advisory firm that is able to demonstrate their ability of efficiently working on inheritance planning will likely be able to retain their existing high net worth clients and will also be able to attract new ones. Such clients emphasis on inheritance planning so that their heir can get sufficient resources to manage the estate. Finally, in order to attract the high net worth client, you need to be prepared to become a hub for all aspects of your client’s financial domain. Providing such a comprehensive service will certainly keep your clients satisfied with your firm.

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