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Upscale wealth managers take on a much larger role for their clients. Many of these financial advisors focus not just on their finances, but also their family and much more. Advisors want to develop a deeper relationship with their clients partly as a retention strategy.

High net worth Clients want more than just a review of their investment performance. They have more complex financial issues such as real estate investments, estate planning, insurance, and added risk. These advisors now try to encompass their clients’ entire financial well-being down to what cars to buy and when. Clients enjoy having one firm that caters to all of their financial needs and are less likely to leave.

The added benefits advisors provide their clients will not only retain their existing clients, but attract new clients as well.