Today there are millions of households in the United States that have accumulated more than $10 million in net worth - with about 2 million having $20 million or more. This huge and growing population of clients is being chronically - and tragically - undeserved by advisors who continue to engage them as if they have the same financial needs as they did before they achieved this level of success. In this conversation Ken and Alex begin to explore the implications of wealth, how the needs of families predictably change as they accumulate wealth and how advisors need to evolve their business model to embrace the emerging point of need of uniquely successful people: “what will be my legacy?” “What do I want this wealth to be doing for the next several decades?” and “How do I want my children and grandchildren to participate in that legacy?”
Also in this episode, the AllianceBernstein Digital Coach – see practice management solutions for advisor success: abfunds.com/go/digitalcoach
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