Wealthy families value their money – but they value other things more. Traditions. Relationships. Their family’s culture and morals. When working with a high net worth family it is important to look past the bottom line and past mere money and into the values and traditions that are even more important to preserve.


Showing an understanding of these traditions and their importance can make a huge difference for a wealth management advisor. Keeping track of the exact details of a client’s situation often requires software, due to the complexity of keeping track of multiple estate plans, investment accounts, trusts, etc. Can software also help understand family traditions?


It can – or at least it can help an advisor keep track of a family’s values and steer financial activity accordingly. By helping families invest in assets that match their traditions and morals, a wealth management advisor can help keep those traditions through the next generation – and also build relationships that last and allow for long term client retention. This also helps families strengthen their unity through the generations.


Finally, showing an awareness and understanding of family values helps an advisor look more personal and build a relationship of trust with their clients. This in turn can prevent mistakes that damage that trust or the trust between family members. Happy clients bring in additional happy clients – especially at this level where most new clients are acquired by word of mouth.


Using the right wealth management software can be the difference between being a mere financial planner who helps your client choose the right investments and being an advisor who is brought into every aspect of their lives.