In the face of ongoing market volatility and uncertainty, the resilience of high-net-worth (HNW) business is a bright spot — and one that warrants a greater focus on the part of the firms that serve them. For example, despite the turbulence of the past year, HNW/family office practices remained steady, according to our recent survey of accounting and family office firms.
Eight-three percent of respondents indicated that the pandemic had either a neutral or positive impact on their HNW practices. When asked specifically whether the pandemic increased or decreased HNW client demand, 37% said it had increased. Only 6% indicated a decrease in demand.
Our findings offer some practical insights on the most significant opportunities for driving the next phase of HNW growth.
