If risk reduction and diversification are somewhat intangible concepts, the benefits of personalization and customization can speak much more directly to your clients’ concept of wealth management. For example, if your client refuses to let go or liquidate all of their long-term stock holding, perhaps you can implement a covered call writing strategy to generate incremental income from the legacy stock position.
Every sector of the economy is affected by advancements in technology and wealth management is no exception. However, finding the right combination of the human element delivered efficiently and as the client prefers, is today’s winning combination.
Successful, busy professionals or the newly retired high-net-worth investor are looking for wealth management solutions delivered along with your personal counsel when needed. This is a great time to be a great wealth manager. So, who knows, maybe you’ll get that appreciation day after all.
Dennis Clark, managing director at Shelton Capital Management, has over 28 years of experience working with independent financial advisors.