Video:

High net worth families seeking trusted advice

Author: Mike Fosberry, James Kirk (yBC.tv)

Categories: Family Business, Getting advice
Tags: high net worth, investment markets
High net worth individuals and families have turned to trusted advisers during a period of economic crisis. Mike Fosberry discusses the issue in this TV show.

High net worth losses in uncertain times

I think a lot of high net worth families thought they were clever people in advance of the machinations of 2008 and what happened in terms of the banking crisis. I think a lot of people have now gone back to advisors who perhaps looked after them in the past and said, “Help, we thought we knew what we were doing.” Life has changed pretty dramatically. We need our hands held through what have been some turbulent times.” I think in terms of investment markets, certainly back into sort of 2008/2009 we saw markets fall very dramatically. So people's net wealth disappeared off the table. Obviously markets have recovered since then and certainly sitting here today we seem in a better place than we were. So perhaps it's less than an issue sitting here today but who knows what's around the corner?  But it has a very dramatic impact on net family wealth. ______________________________________________________ If you found this TV show about High net worth and economic crisis, why not browse more interviews and briefings on Inside Finance TV.  
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