Dont Serve Your UHNW Clients Like Its 1985
Summary
But for advisors serving ultra-high-net-worth families, the promise of an easy button to manage the complex needs of multi-generational, taxable investors rings hollow. Despite the incredible growth of sophisticated fintech software-as-a-service solutions, advisors are still commonly doing complex and custom work for UHNW families in Microsoft Excel, which was released in 1985. One consequence of the UHNW technology gap is that clients struggle to get a clear view of their total investment portfolio in the context of their estate plan. Without holistic and timely data, advisors can’t coordinate investment advice with estate planning, risk management, philanthropy, banking, family governance and other client objectives. Once client data is fully integrated, specialized tools sit on top of this foundation to crunch numbers, glean insights, fuel recommendations and report outcomes.