In this months Hardman & Co report the feature article is “Survey shows underlying strengths in wealth manager business models” By Keith Hiscock, C.E.O.
The survey recently published by ComPeer of wealthy investors has some surprising results. Only slightly more than 10% of those with £1 million plus (high net worths or HNWs) to invest, inherited the money. The young are no better advised than their parents, with 25% of HNWs taking no advice. Wealth managers are attractive to investors for four reasons. First, there are plenty of ‘non-advised rich’ to target as new clients. Second, wealth managers’ assets are very sticky with 74% of 50+ year olds having been with the same manager for at least 5 years. Third, all age groups far prefer face to face meetings, rather than the internet or social media for contact, suggesting commentators overemphasise the threat from new media. Fourth, fees are only the third most important criteria in choosing an advisor. All the more surprising then that these advisors are poor at following relationships through a family; even among those with £1million plus to invest, only 19% get a call from their parents’ advisors!
Other topics cover companies:
Advanced Oncotherapy PLC (LON:AVO)
Allergy Therapeutics PLC (LON:AGY)
Alliance Pharma Plc (LON:APH)
Burford Capital Limited (LON:BUR)
City of London Investment Group Plc (LON:CLIG)
Empresaria Group Plc (LON:EMR)
Grafenia Plc (LON:GRA)
Lombard Risk Management Plc (LON:LRM)
MedicX Fund Ltd. (LON:MXF)
Murgitroyd Group Plc (LON:MUR)
Primary Health Properties Plc (LON:PHP)
PPHE Hotel Group Ltd (LON:PPH)
Purplebricks Group Plc (LON:PURP)
R.E.A. Holdings (LON:RE.)
Real Good Food PLC (LON:RGD)
Tethys Oil AB (LON:TETY)
United Cacao Limited SEZC (LON:CHOC)
Verona Pharma Plc (LON:VRP)