What High-Net-Worth Prospects (Really) Want From A Financial Advisor - Michael Kitces & John Bowen

Michael Kitces and John Bowen, CEO and founder of CEG Worldwide and CEG Insights (formerly Spectrem Group), dive into CEG's extensive data on the "gap" between the services that financial advisors actually offer to their clients and what HNW clients truly want from their advisors. The discussion highlights the often-misinterpreted needs of HNW clients and how advisors can ensure their services are aligned to meet their clients' expectations most effectively.
How Do Advisors Differentiate Themselves? [4:49]
The 5 Value Propositions Financial Advisors Can Offer Prospects [11:22]
The “Sweet Spot” Of High-Net Worth Clients [27:40]
Using (Niched) Value Propositions As Marketing Differentiators [32:34]
Transcript and PPT available at the link: www.kitces.com/blog/high-net-...

[@montanasam7831]

Thank you, Michael! I really appreciate the conversation! They say that when the student is ready, the teacher appears and the last several months I have really been thinking a lot about how to bridge the gap between the value that I think I add and what my clients perceive my value to be so this was spot on for me.

[@gabereds9869]

I wish it wouldve gone to the next level and looked at, in the cases where the advisor SAID they were providing the mentioned services, but it wasnt perceived, the commonalities of those advisors communications to clients. And on the other hand, the 20% of advisors who consistently offered what the clients perceived them to be offering, what specifically communicated that to the client. What was the PROOF that made those clients feel that they had received ample “tax planning” or “estate planning”. Thats a rabbit hole that would demonstrate to alot of advisors what we need to be communicating or where we need to emphasize/focus our efforts so that the client feels their time is being spent on the items they really want to achieve. Because literally everyone asks the client what their objectives are and we do needs based analysis, but clearly we’re getting lost in translation.

[@pedrocisneros2886]

So many great takeaways, thank you! More of these would be appreciated.

[@ryanjohnsonku]

Looks like they forgot to actually show the chart at the 22-23 min mark! Only the first row is showing.

[@MichaelKitces]

Oops, you can download the slides in our article! www.kitces.com/blog/high-net-worth-hnw-prospects-advisor-services-ceg-insights-data-john-bowen/
- Kitces Team

[@gabereds9869]

The suspense was killing me lol

[@gavinchapple825]

With great respect, gents this insight is 7 years old…problem is ave FA can’t have a meaningful conversation to save themselves…