What Seb Dovey doesn’t know about wealthy individuals is probably not worth knowing. He’s dedicated his entire career to studying the behavioural patterns of High Net Worth (HNW) and Ultra High Net Worth Individuals (UHNWIs).

Seb founded the Scorpio Partnership in the 1998, to advise companies on how to delight the world’s wealthy during their client journey. The firm has conducted more surveys and interviews of High Net Worth and Ultra High Net Worth clients than anyone else in the industry and advised over 300 institutions. It’s annual FutureWealth Report is one of the most comprehensive study of U/HNW clients globally.

In this interview – first of a 3 part video series, Seb speaks to Abraham Okusanya about what wealthy clients look for when they choose a financial adviser. Seb notes that it boils down to the following three key criteria;

• Consistent: they want an assurance that what they bought at the beginning of the relationship is what they’ll receive throughout the relationship.
• Credibility: they want to work with an operation that’s got the right qualifications and certainly the right financial backing and corporate structure
• Continuity; the is often linked to one to one relationships but it’s a major weakness of the private banking model as people leave jobs and companies exit the industry, resulting in the client having multiple relationships. Its because clients tend to be loyal

Seb points out that while performance and fees are important, they are expected. Clients expect to pay their advisers, but what is often challenged is what’s worth paying for.

Check out some great resources from Scorpio here.

Happy viewing!