Are You Taking the Necessary Steps to Build Business Owner Loyalty?

In a recent survey of VIP Forum members, 63% of firms reported that business owners’ focus on business, not personal financial issues is the primary challenge in serving business owner clients.  However, The VIP Forum’s proprietary survey of wealthy business owners indicates that providing valuable advice on personal financial issues (e.g., retirement planning, asset allocation), […]

A European View of Revenue Growth

The VIP Forum held its annual executive meeting in Europe, where senior wealth management executives from across Great Britain, France, and Germany discussed challenges and solutions to boosting sales effectiveness.  In fact, wealth managers worldwide have aggressive goals.  A recent VIP Forum survey shows that most firms are expecting nearly 15% year-over-year revenue growth in […]

How to Build Advice Teams That Can Double Your Cross-Sales

In recent blog posts, we recommended that to hit this year’s aggressive revenue growth goals, wealth managers must maximize advisors’ capacity for sales and service, apply engagement competencies in all client interactions, and leverage financial planning to expand share-of-wallet. For each of these three steps, however, having effective team structures to sell and deliver advice to clients is paramount.  […]

3 Strategies to Reignite Revenue Growth

The VIP Forum held its annual executive meeting last week, hosting nearly 40 senior executives from across the North American membership.  Wealth management executives gathered for a one-day meeting to discuss challenges and solutions to boosting sales effectiveness.  With executives self-reporting revenue growth goals of 14% for 2010, the question on everyone’s mind was “how […]

Leverage Behavioral Finance to Engage Post-Crisis Clients

No one can argue that the economic crisis resulted in a change of client profiles. We’ve heard it from VIP Forum members. We’ve seen it in data from our proprietary client surveys. Industry experts continue to discuss it. And wealth managers are finally responding.  How? To engage the newly defined post-crisis client, wealth managers are […]

Surprising Lessons from the Mortgage Industry

Over the past few years, every aspect of the mortgage industry has been examined with a fine toothed comb by the media, regulators, consumers, and lenders alike. Well, it seems like they missed a spot. With new regulations coming into effect and changing consumer needs, the industry will be forced to focus on the efficiency […]

Understanding the High-Net-Worth Women Segment

Given the fact that women control nearly one-third of investable assets worldwide, it is not surprising that wealth managers seek to refine their strategies for capturing the high-net-worth women segment. To help members better attract and serve this segment, The VIP Forum recently analyzed its HNW baby boomer survey data to understand the similarities and […]

How Do You Define the Client Experience? Good Question…

As you may know, The VIP Forum is currently working on a research initiative on the client experience, given it was the top priority reported by the membership in our annual agenda poll last year. Many of you have been generous with your time over the past couple of months, speaking with our research team […]

How Wealth Managers Can Add Value in a World of Low Returns

The VIP Forum hosted the heads of wealth management of several private banks from across Europe in its second gathering of the Wealth Management Executive Circle on November 30 – December 1st in Paris. Heads of wealth management convened to discuss strategies for managing wealth in an environment of low or close to no returns. […]