As a summary of this audio program, foundation stones to networking with millionaires and their advisors are: 1.
This book provides an insightful roadmap of the motivations and purchasing patterns of the affluent-and delivers a strategy for salespeople to leverage that information to best advantage. "Tom StanleyÕs ideas regarding Networking with the Affluent and Their Advisors have produced strengthened relationships throughout our multinational accounts. The re-wired investor 2 Gen X, the approximately 45 million Americans born in the late 1960s and 1970s, and Gen Y, the approximately 60 million Thomas J. Stanley (1944 – February 28, 2015) was an American writer and business theorist.
Accordingly, WM firms and their advisors should adjust their offerings and service delivery models to “win the battle” for the Re-wired Investor—the investor of the future. Los Angeles Family Office Association Launches as Networking Resource for Wealthy Families and their Advisors Los Angeles, CA - May 31, 2017 - Family Office Networks announced today the launch of a new division in Los Angeles led by local resident James R. (Jim) Hedges, IV. 3. platform to capitalize on their captive audience, Millennials.13 These new entrants could be formidable, given their familiarity with the new generation of wealth, as well as their digital savvy. increase.
Where they are in the wealth continuum drives their objectives and subsequently what they expect from their advisors and support services. High Net Worth Individual - HNWI: High net worth individual (HNWI) is a classification used by the financial services industry to denote an individual or a family with high net worth.
Socializing and Networking 4. 2. that either the investors or their advisors needed to sort. Stanley’s first three books, Marketing to the Affluent These books spent more than 170 weeks combined on the New York Times’ Best Sellers list. A timely guide for financial professionals looking to tap into the lucrative world of the ultra-affluent. "-Keith Martino, Global Sales Manager, Federal Express Corporation.
He was the author and co-author of several award-winning books on America's wealthy, including the New York Times’ best sellers The Millionaire Next Door and The Millionaire Mind.He served as chief advisor to Data Points, a company founded based on his research and data.
The ultra affluent–defined here as those having $50 million or more in liquid assets–are an elite class who expect their financial advisors to not only preserve and grow their assets, but also help them with "soft" issues such as philanthropy and family governance. Most affluent people are members of one or more affinity groups. New wealth comes quickly to some families. Information about the quality and integrity of suppliers, including referrals and endorsements, diffuses much more rapidly among members of the same group. In the future, wealth managers will be selling outcomes, not traditional investment products. To find the affluent target market you're seeking, ... monitor their buying behavior, ... and network you need to get your business off the ground—or take it to the next level. Recent increases in target-date funds is one example of investors taking a more outcome-oriented approach. ... they have conducted ongoing studies on both the affluent, in their decision making patterns, and elite advisors in their marketing and sales tactics. The bottom line is increased customer loyalty, our most precious asset. "This book is the best guide to success IÕve seen. 1.