Managing Wealth for the Next Generation Webinar with Viola Werner and Andreas Zingg скачать в хорошем качестве

Managing Wealth for the Next Generation Webinar with Viola Werner and Andreas Zingg

Watch the full webinar "Managing Wealth for the Next Generation" with Viola Steinhoff (Credit Suisse) and Andreas Zingg (Vanguard). #wealthmanagement #nextgeneration #investing What does the next generation really want in a wealth manager? Is it more sustainable investment? Highest returns as possible? How have their needs changed compared to their parents and how should wealth manangers adapt to this new set of needs and wishes? Those are the questions that have been answered in the webinar on November 25 with Viola and Andrea from Crédit Suisse and Vanguard respectively. First of all, the next generation in the wealth management industry are more tech-savvy and are in general more interested in investing than their parents. They also evolve now in a world in “do it yourself services” where taks that were previously delegated to agents are expected to be completed by the consumer itself. As a consequence, the next gen in wealth management does not want to hand out their money to a manager with discretionary investing decisions. They are seeking advisors more than managers. Advisors who sometimes have to put the hat of a coach, a person who has to understand what are the objectives of the client in their life in general. The wealth manager of the next generation listens and presents what are the financial tools and strategies available to make those dreams a reality. That explains why, despite the fact that those clients appreciate (or even require) tech refined interfaces, the quality of the human interaction remains key. But at the same time, the next generation is very price sensitive and has all the information necessary to compare prices. So whenever a financial service is more expensive, they want to get something in return. And providing a high-quality advice is pricey. Consequently, the big challenge of future wealth managers is to provide financial “coaching” so that clients can conduct their investments on a refined tech platform while offering a competitive price. The financial products that are the most in the demand by the next generation are educational programs and direct investment platforms. Viola pointed out the importance of starting the financial education process as young as possible and Andreas stated that the data shows that younger investors like passive investment solutions such as those offered by Vanguard and are less active traders than older investors. It is key to provide more education because conducting direct investments without the proper education usually leads to bad performances. In terms of product offering, the next generation demands impact investments. It goes beyond sustainability because they are also interested in investing in promising start-ups or entrepreneurs. Regarding sustainability, there is a wish to not invest in unsustainable companies rather than investing in sustainable projects only. That is why ETFs that exclude non-sustainable investments are the most in demand since they do not sacrifice return or diversification for sustainability. However data suggests that a “own an engage” approach is more effective in making business more sustainable.