Women are living longer than men. We all knew that. But, as a result, they're the ones who wind up having to manage what's left of the money. The New York Times details this issue for older women, and how some financial advisors are catering to this demographic.
BNY Mellon in Hong Kong
As the number of high-net-worth individuals in the Far East is booming, so are the number of wealth management firms operating there. The newest: BNY Mellon, which is set to open an office in Hong Kong.
How to Keep Your Millionaire Clients
Are you perpetually worried that your high-net-worth clients are constantly looking for new financial advice? Stop, unless you neglect to return their phone calls. According to Spectrum's Millionaire Corner research, 86 percent of clients with between $1 million and $4.9 million in assets plan to continue to use their primary advisor the same level as in the past year. However, 61 percent said that ignored phone calls is the primary reason they would change financial advisors.