To gain a competitive edge, advisors pursuing clients among ultra-wealthy individuals and families are using an array of sophisticated techniques designed to build engagement with existing clients and garner interest from new ones.
Defining the size of the market is tricky, though, as thereís some disagreement over the demarcation between high net worth and ultra-wealthy. Gauthier Vincent, a principal with Deloitte Consulting† and the head of the firmís U.S. wealth management practice, believes that the latter group represents the top tenth of the top 1% of global wealth and includes individuals and families with more than $5 million in investable assets. All told, he says, it encompasses approximately $4 trillion in value. The larger high-net-worth market, he says, includes individuals and families with investable assets of more than $1 million, for a total of $7 billion.