Charles ManKinnon, manager of discretionary portfolios for private clients, trusts, charities and pension funds, gave some valuable advice to the young wealth professionals assembled at our Tomorrow Club networking event.
1. Love what you're doing and know where to cut your losses if you hate your job! Your clients will sense that your heart isn't in it and will not trust your advice. This sounds obvious, but Charles couldn't stress enough the importance of enjoyment as he himself had been through the negative experience of hating a job he felt he wasn't suited to.
2. Be sincere and mean what you say! Only ask the question if you really want to know the answer. Again your clients will pick up on a lack of real interest.
3. Key to successful communication is being a good listener. During the first five minutes, they'll tell you 90% of what really matters to them. Be super attentive - they'll appreciate that and will like you for it
4. if you're a trustee, never forget it's THEIR money you've been entrusted with and ultimately it is their choice what they do with their money. They are the clever ones who made their money.
5. Finally - never expect your UHNW clients to pick up the bill if you're entertaining, just because they have so much more money than you have ! They will appreciate the gesture, even if it's only a hamburger at Byron's!
1. Love what you're doing and know where to cut your losses if you hate your job! Your clients will sense that your heart isn't in it and will not trust your advice. This sounds obvious, but Charles couldn't stress enough the importance of enjoyment as he himself had been through the negative experience of hating a job he felt he wasn't suited to.
2. Be sincere and mean what you say! Only ask the question if you really want to know the answer. Again your clients will pick up on a lack of real interest.
3. Key to successful communication is being a good listener. During the first five minutes, they'll tell you 90% of what really matters to them. Be super attentive - they'll appreciate that and will like you for it
4. if you're a trustee, never forget it's THEIR money you've been entrusted with and ultimately it is their choice what they do with their money. They are the clever ones who made their money.
5. Finally - never expect your UHNW clients to pick up the bill if you're entertaining, just because they have so much more money than you have ! They will appreciate the gesture, even if it's only a hamburger at Byron's!
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