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Advisory Market Booming, Thanks to High Net-Worth Clients, New Strategies (The Street, 9 August 2017)

Aug 9, 2017

A big reason for the investment advisory industry’s “new momentum” is a simple, economic one – increased demand.

“One of the reasons for this boom is due simply to there being an increased number of high net worth investors looking to allow their money to work for them,” says Simon Calton, CEO of the U.K.-based Carlton James Group. “Years ago, it was far more difficult to accumulate wealth as a salaried employee, which is still true. However, the rise of the internet and technology has also generated tens of thousands more entrepreneurs, including those who are able to accumulate wealth working from their own home.”

The biggest barrier to growth is a global market downturn, which is always “very possible,” especially due to political turmoil, Calton says. “While a short term and significant challenge, this can be good for the long-term, weeding out financial advisors who are only reactive and riding the market average – versus those who prepare their high-net worth clients for economic uncertainty and are thus able to capitalize on it.”

Read full article.