Uniquely successful families have different needs from their advisor compared to other, less successful clients. A windfall wealth event represents both a wonderful gain (of money) and a painful loss (of identity, role, belonging, meaning and purpose of life). Because of this, the UHNW client needs their advisor to help them not only manage their assets but to manage their needs for creating a new meaning and purpose and to be able to create a vision for their family that extends out several generations into the future. Most advisors are fully capable of managing significant pools of assets, but many have not developed the skills to meet uniquely successful families and their new point of need. In this fast paced conversation Ken and Scott explore the mistakes advisors typically make with these types of clients and what an advisor can do to avoid them.
See more from the AB Advisor Institute: https://www.alliancebernstein.com/us/en-us/investments/advisor-institute.html?mid=sco:usr:insights:youtube:2025
Also in this episode, the AllianceBernstein Digital Coach – see practice management solutions for advisor success: abfunds.com/go/digitalcoach
DISCLAIMER Note to All Readers: The information contained here reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this podcast. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.
