postA New Window on Wealth Management

wealth map

What if you had a picture that showed all the things high net worth investors want and need? Look no further because the Scorpio Partnership managed to capture the key themes and challenges in wealth management in one single illustration.

While it is yet another beautiful example of ‘information art’, the image is a pictorial collation of the key themes that came up during the Wealth Management and Innovation Forum, hosted by SEI Investments. It reflects the evolving challenges and opportunities of the global private banking model.

Scorpio Illustration

Also, put on your headphones and listen to my chat with Seb Dovey, the Principal of the Scorpio Partnership. We had a very insightful conversation about the key future trends for wealth management.

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The great thing about audio podcasts is that you can listen to them while you are doing other routine things like commuting, filing expenses, working out or anything else that doesn’t require your full attention. I’m an avid fan of podcasts because they teach me so much about so many things.

This is my first audio only conversation with Seb Dovey. We usually get to speak with each other on video which means that we need to make sense in less than 5 minutes. But another great thing about audio-only is that we can go into far more depth without getting too much in the way of the listeners time.

About the Scorpio Partnership

The Scorpio Partnership was set up around 15 years ago based on the idea that the investment and wealth management industry wasn’t really paying any attention to the customer voice and that once they could hear it, they would be able to make better products.

Seb DoveyOk, I know this sounds like ‘duh’ but the reality is that most of the industry is still not paying attention to the customer. The investment management industry still spends far more time on brainstorming about products they believe investors will like than actually creating te kind of solutions that solve challenges.

Seb Dovey has made it his craft to listen and process what investors are actually saying. Since it’s start, the Scorpio Partnership has already conducted more than 30,000 interviews! Quite an amazing number with one third representing interactions with financial advisors and the rest with actual high net worth investors.

Seb says there are more than 10 million millionaires in the world. And while the sample of interviews only scratches the surface of global wealth, back in 2007, Scorpio committed to a project they call ‘Future Wealth’ to map the entire global high net worth community in 10 years.  Seb is also surprised how the evolution of technology has allowed them to already be well ahead of schedule.

For the record, BD-Insider has no affiliation with the Scorpio Partnership but we do believe they are worth following because it looks like we can expect a lot more valuable isights from where this comes from.



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