In wealth management, price and popularity act as proxies for prestige. ๐ 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. ๐คฆโโ๏ธ The marketing of the wealth management industry feels entirely backwards... but it hits client psychology perfectly. ๐คทโโ๏ธ
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2 Comments
Levi Ewald@smallbird.financial ยท 20d
Very well said!
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