Capitalizing on opportunities to serve high-net-worth clients

About this episode

The episode discusses how banks can capitalize on the growing high-net-worth client market amidst changing economic and generational factors.

Several factors — the growth of the U.S. economy and asset prices, generational transitions and changing values — are reshaping the wealth management and financial advice sectors. More individuals and families are falling into the high-net-worth (investable assets of over $3 million) and ultra-high-net-worth (assets of over $30 million) than ever before. How are banks positioned to capitalize on this evolving marketplace? On the latest episode of the ABA Banking Journal Podcast, ABA's Mark Benskin — a veteran of the wealth management sector with experience at several banks — discusses: The structural shift in the wealth management business, including the rise of Registered Investment Advisors that serve HNW and UNHW clients. The mix of services — estate planning, tax planning, asset protection and charitable planning — that clients are seeking from their advisors. Evolving revenue models for wealth management and the pursuit of scale. The strategic question for banks of building versus "renting" infrastructure. How banks are positioned to break down institutional silos that hinder full-service client engagement. Learn more about the ABA Wealth and Trust Schools .

People in this episode

Guest: Mark Benskin

Topics covered

• wealth management
• high-net-worth clients
• financial advice
• banking strategies
• investment services
• generational transitions

Keywords

• wealth management
• high-net-worth
• financial advice
• investment advisors
• banking strategies
• asset protection
• estate planning

Mentioned in this episode

Organizations: ABA Banking Journal, American Bankers Association

Places: U.S.

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