Recap
FCS Philadelphia gathered for its fourth event of 2024 to discuss “Elite Marketing Strategies for Elite Clients.” The event, hosted at the headquarters of Lincoln Financial Group, featured in-depth research presented by Meredith Lloyd Rice from Escalent, on the high-net-worth and ultra high-net-worth investor segments. The conversation then transitioned to a panel of elite HNW marketers, including Wendeline Dill of J.P. Morgan Wealth Management, Patty Quinn McAuley of Clark Capital Management Group and Melissa Brandt of Lincoln Financial.
Some key takeaways from the event included:
- The HNW Experience: Panelists talked about their learnings about the goals and concerns of HNW investors. Most notably, this segment is so highly sought after that everyone is bombarding them with offers, opportunities and investment products. It’s critical for marketers to understand how sought after this audience is, and create a high-end experience for them that helps them move from “No” to “Yes”.
- Core Objectives: Marketers acknowledged several key, consistent themes on the minds of high-net-worth individuals: taxes, wealth transfer, and wealth preservation. By building products and solution sets that help meet these objectives, the panel were seeing success in engaging this audience.
- Not a Monolith: The panel described the importance of going beyond the simple “HNW” moniker and building strategies for specific segments of the market. This could include emotional personas like “Cautious Givers” or “Leisure Seekers,” or it could mean marketing to unique niches like business owners, doctors, athletes or celebrities.
- Impending Wealth Transfer: Wealth transfer was a huge topic of the discussion, with the panel talking about key strategies to help financial advisors engage with the next generation of wealth. Sample strategies included the importance of advisor teaming, helping advisors understand generational differences in communication, and more.
- The Impact of Advisor Succession: The panel also discussed how an aging advisor population was impacting the HNW segment. As advisors increasingly retire, panelists were seeing vasts amounts of institutional knowledge leaving the category – most pointedly, the most effective ways to engage with and meet the needs of the HNW segment.
–reported by Phil Edelstein, founder of Substance Strategy & Creative and chapter president of FCS Philadelphia
FCS Philadelphia returns to the Main Line and the offices of host sponsor Lincoln Financial for a breakfast event on Wealth Management. Join us on Wednesday, September 25, when we discuss “Elite Marketing to Elite Clients.” The event will begin with custom research on the unique needs of high net worth clients, presented by Meredith Lloyd Rice, Vice President of Cogent Syndicated, a division of Escalent, the human behavior and analytics advisory firm. Meredith will then moderate a panel discussion featuring high net worth marketers from the region, including:
- Wendeline Dill, Head of Advisor & Field Marketing, J.P. Morgan Wealth Management
- Patty Quinn McAuley, CFP®, SVP, Head of Marketing, Clark Capital Management Group
- Melissa Brandt, VP, Annuity & Investment Management Marketing, Lincoln Financial
As part of the FCS philanthropic mission to support children’s charities, we will donate $1,000 to Philadelphia Financial Scholars in gratitude to our event’s speakers.
Like all FCS events, this breakfast is sponsorable. For information, please contact FCS CEO Kevin Windorf. Content Champion sponsorships include 5 tickets plus branding before and at the event ($625).
For more information about FCS Philly or to get involved, please contact chapter president Phil Edelstein, founder of Substance Strategy & Creative.