Wealth management for the ultra-rich

Written by two Swiss bankers, \”The Ultra High Net Worth Banker\’s Handbook\” is a reference on the art of wealth management for ultra-rich. This book, one of the few in this area, provides a framework for understanding all aspects of business. It is enriched with examples, advice, eg on management priorities, and recommendations for readings.

The asset management for high net worth individuals (UHNWI) finally has its reference. Two Swiss bankers, Heinrich Weber and Stephan Meier, who wish to remain discreet about their employers, have gathered in a book published this fall their experiences and advice on the job.

The Ultra High Net Worth Banker\’s Handbook is designed for practitioners, ultra-rich themselves, as well as management institutes asset management. This book, one of the few in this area, provides a framework for understanding all aspects of business. It is enriched with examples, advice, eg on management priorities, and recommendations for readings.

This book is published at a particular time for the Swiss wealth management. While the tax protection of banking secrecy is very weak, global customer care and service are more necessary than ever. In addition, the mandates of ultra high net worth individuals (UHNWI) have the advantage of being often paid at a flat rate, which partially protects the boards from market fluctuations. Experiments with these people are also demanding a source of lessons that can be applied to other customers.

The book begins by describing the needs of the ultra-rich persons weighing more than 50 million fortune and would be 18,000 to 22,000 in the world. It is often entrepreneurs, whose company is an important part of heritage. Their needs go beyond the asset management and extend the investment bank, for example to enable their company to raise capital or make acquisitions.

The private banker is regarded as a referent. \”It does not get commissions in the center of the relationship, but confidence in the long term,\” recommends Heinrich Weber. Understanding customer needs, family environment and the impact thereof on the future of heritage is one of the basics of the trade.

This book is published at a particular time for the Swiss wealth management. While the tax protection of banking secrecy is very weak, seduce a global customer care and service are more necessary than ever. In addition, the mandates of ultra high net worth individuals (UHNWI) have the advantage of being often paid at a flat rate, which partially protects the boards from market fluctuations. Experiments with these people are also demanding a source of lessons that can be applied to other customers.

Providing a little more than what the customer is entitled to expect helps reinforces a positive impression. And if it is satisfied, it\’s likely that demand for other services and recommends the banker around him. It is the maintenance of confidence and quality of service that will allow the bank to expand its network and commission income, rather than activism.