Financial advisers are delving a little deeper when it comes to their wealthy clients, The Wall Street Journal reports. Increasingly, much as other industries, including retailing, real estate and pharmaceuticals already do, they are using psychological profiles to find out what makes them tick.
A cultural anthropologist recently wrote a report on the subject for
If a client is a "thrillionaire," an adviser might pitch a investment as "innovative and customized," said Susan Hirshman, a managing director at JPMorgan.
"Other industries put our industry to shame in terms of the amount of market research they do," noted Patricia J. Abram, a senior managing principal with
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.