The Pricing Paradox of Wealth Management
In wealth management, price and popularity act as proxies for prestige. 🏆
High-fee, mega-AUM advisors keep winning clients, even as their calendars fill up and their individual client time shrinks...
Meanwhile, a rising advisor charging lower fees with fewer clients has the bandwidth to deliver incredible, high-touch value. But to HNW/UHNW prospects, low AUM looks like inexperience, and a lower fee looks like discount advice. 🤦♂️
The marketing of the wealth management industry feels entirely backwards... but it hits client psychology perfectly. 🤷♂️
