The assembled guests at the Citywealth WP networking event last week listened to some valuable advice dispensed by three experienced wealth professionals.
Eric Barnett, Group CEO at Hambros, pointed out that succesful people know how to focus on what's important, and not necessarily on what's urgent. If executives were to do that, they could save about 20% of their time and avoid a lot of stress. Same when it comes to networking - it's not the number of contacts that matter, but the quality and relevance of these contacts that will ultimately help in one's career.
He also advised to maintain certain distance with HNW clients. They don't want friendship, but professional expertise.
Saskia Arthur, Partner at law firm Boodle Hatfield, who specialises in residential and commercial property , also pointed out the importance of prioritising your work load. Managing your client expectations was another important factor. UHNW individuals want immediacy, though being able to say no, if the request is outside your professional expertise, will gain respect. Saskia also emphasised the importance of aknowledging the emotional element, especially when it comes to dealing with residential property, and recommended to use empathy with the client's emotional needs.
Tim Bailey, senior portfolio manager at C Hoare & Co, pointed out the importance of attending seminars to keep abreast of the latest developments within your sector. Networking was another useful tool - people do usually business with those they like and share some interests with. Introducing your contacts will help to build a community and generate goodwill towards you. Integrity, transparency were essential qualities to build a successful relationship with your clients, and a firm belief in what you do will generate confidence.
Eric Barnett, Group CEO at Hambros, pointed out that succesful people know how to focus on what's important, and not necessarily on what's urgent. If executives were to do that, they could save about 20% of their time and avoid a lot of stress. Same when it comes to networking - it's not the number of contacts that matter, but the quality and relevance of these contacts that will ultimately help in one's career.
He also advised to maintain certain distance with HNW clients. They don't want friendship, but professional expertise.
Saskia Arthur, Partner at law firm Boodle Hatfield, who specialises in residential and commercial property , also pointed out the importance of prioritising your work load. Managing your client expectations was another important factor. UHNW individuals want immediacy, though being able to say no, if the request is outside your professional expertise, will gain respect. Saskia also emphasised the importance of aknowledging the emotional element, especially when it comes to dealing with residential property, and recommended to use empathy with the client's emotional needs.
Tim Bailey, senior portfolio manager at C Hoare & Co, pointed out the importance of attending seminars to keep abreast of the latest developments within your sector. Networking was another useful tool - people do usually business with those they like and share some interests with. Introducing your contacts will help to build a community and generate goodwill towards you. Integrity, transparency were essential qualities to build a successful relationship with your clients, and a firm belief in what you do will generate confidence.
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