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James Morrell, a director and client adviser at the family firm, is clear about the challenges the industry faces. ‘In the short-term Brexit is an obvious source of near-term uncertainty and complexity for our clients.’ And in the long term? ‘Adapting to each generation’s requirements.’
‘There is no such thing as a typical client, but there are commonalities,’ he adds. ‘They are often first or second-generation-wealthy, entrepreneurs, and looking to us to preserve and grow the real value of their wealth.’
Morrell knows nothing can be taken for granted. ‘Working for a US broker dealer during the 2007-08 crisis was character-building,’ he tells Spear’s.