Rosalyn Breedy of Forsters Solicitors highlights keys to success in working with UHNW clients

Rosalyn Breedy, Partner in Forsters LLP corporate and financial services practice, gave some tips to wealth professionals during the latest Citywealth WP networking event.

Her three Dos unfailingly courteous. This should go without saying, but in an age of internet informality, it can be sometimes forgotten. Always check and use the correct titles and forms of address
2. do listen attentively and do not assume anything. Family dynamics may be complex, so take care to ensure that you understand relationships and motivations
3. do stick to your principles. Maintain your own boundaries. As a trusted adviser you have obligations to others and your client's reputation to protect

Her three Don'ts
1. Don't step over the line. Don't drop a client's name, use it for credentials or publicity purposes. Don't take selfies, ask for their autographs, ask for free tickets, etc
2. Don't make assumptions. Many advisers believe that wealthy clients are not careful with their money, yet carefulness with money is one of the reasons behind their success
3. Don't just leave them to it. Simply giving advice isn't enough. The ultra wealthy are busy and may also need help with implementation of agreed plans, involving tasks such as account administration or communicating with family members

Finally, do remember that earning the trust of discerning clients takes time and effort. It takes a lifetime to build a reputation, but just a moment to lose it!