Wealth Management Pitfalls

Wealth Management Pitfalls identifies the most common missteps in the field, and offers alternative practices that can improve client outcomes. Decision-making is the key point of successful investment, yet it is the area where most wealth management plans fail. Managers can fail to consider even the soundest conclusions of academic research, and most clients lack the level of counselling needed to even identify their own long-term financial objectives. Behavioural bias is often exploited at the expense of the client and to the benefit of banks, and the preservation of long-term purchasing power is ether misunderstood or ignored entirely. This flawed strategy only leads to inferior—or even disastrous—outcomes. This book provides a practical decision making framework for wealth managers who realize that better client outcomes translate to better business results, and an invaluable guide for clients looking to take charge of their investment decisions going forward.

Wealth management is in a state of flux, with numerous threats to both investments and the industry itself. This book is designed to be a compass for charting strategic direction in these turbulent times, with clear guidance and candid insight.

• Help clients identify their long-term financial goals
• Improve the decision making process
• Identify key problem areas in your own practice
• Improve client outcomes with truly rigorous counselling

The financial crisis, followed by increasing compliance costs and historically low interest rates, has significantly dented profits. Geopolitical instability, financial repression, robo-advising, and big data are disrupting the industry. It’s never been more important for wealth managers to approach every decision with a clear objective and sound strategy.Wealth Management Pitfalls helps you revamp your practice to be more effective in the new era of wealth management.