Report summary

In this third paper of our 2015 Futurewealth series we consider how far high value clients believe the wealth management industry is implementing appropriate business standards to deliver on key outcomes.  Specifically, we ask how the engagement style of the next generation shapes their perception of the service delivery.

Key findings:

  • The Futurewealthy believe that their wealth management firms are on the right track to deliver key business standards.
  • 67% anticipate that increased regulatory impetus will have a positive influence on the delivery of financial advice.


  • Among under 40s from the Amercias, almost 1 in 4 clients say they have not received an explanation on how investment performance has been generated.
  • Just 25% of HNW millennials attribute the success of their investment outcomes to their relationship manager or wealth management firm.

There is much to celebrate in the current era of wealth management, but what stops this being a golden era for wealth is the next generation, who remain slightly more sceptical about the future of their financial relationships.

This paper explores trust amongst younger investors and how providers can win the hearts and minds of generation sceptic.

Futurewealth 2015

This is now our sixth year telling the story of the global Futurewealthy.  During our time as narrator, we have learnt all about the things that enhance their lives, careers and financial relationships.  Our ongoing objective with this research has been to challenge the wealth management industry's assumptions about the extent to which it knows its clients.  We do this by asking the world's wealthy the questions others are often afraid to ask; questions about their hopes, fears, motivations and, crucially, their perceptions of the financial firms they work with.

In this sixth phase of research, we consider how they, the Futurewealthy, engage with the relationship manager at their primary wealth management firm.  Their responses have given us an idea about how the client engagement model needs to evolve as businesses adapt to the challenges and opportunities of modern wealth management.

Over the coming months we will be releasing four papers which look at every aspect of a client's interaction with their relationship manager.  In the first paper, we examine the core functions of the relationship manager from the perspective of the global wealthy.  Then we consider the contact strategies adopted by firms to connect with these clients.  In our third paper, we look at the extent to which relationship managers are delivering on core client outcomes.  Finally, we assess the fiscal and non-fiscal value of this indvidual within the entire business structure.

Read the first paper in the 2015 Futurewealth series: The art and science of relationship management


Wealth management firms, private banks, IFAs, RIAs, financial advisors, investment offices.

Research process

This is the sixth year of our Futurewealth research series. The report findings are based on the views of 3,113 individuals from around the world with an average worth of US$2.7 million. We refer to them as the Futurewealthy because they are at the front of a global charge up the wealth curve.

Futurewealth is a global customer insight programme that examines wealth management trends and the thoughts, needs and aspirations of HNW investors. In 2009, when many in the industry didn’t believe that it was possible to survey wealthy clients in statistically valid numbers, Scorpio Partnership began this attitudinal research programme. Today, over 15,000 HNWs have taken part and their input has created a database of over 5 million segmentable data points.

This wealth management research was conducted using an online survey.  Participants were identified using profiling techniques to determine their likelihood of qualifying as Futurewealthy candidates.  They were contacted directly by email.


HNW Research


Scorpio Partnership, SEI (NASDAQ: SEIC), NPG Wealth Management


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