November 5, 2015

Private Asset Management: Globalization is Driving a New International Wealth Management Market Opportunity

Private Asset Management published a new article entitled “Cross-Border Families Represent $6 Trillion Advisory Prospects” on October 30, 2015. The report reads: “The cross-border family market is worth an estimated $6bn to the advisory industry, a new report has claimed.


According to findings from financial planning and investment management firm Worldview Wealth Advisors, globalization is driving a new international wealth management market opportunity, leaving a multi-trillion dollar market segment – ‘cross border families’ – underserved


The cross border family market segment consists of three sub-groups that include international professionals living in the United States, American expatriates, and international families with assets in the U.S.  Collectively, this group represents $6trn in assets, according to the report, titled “The Growing Opportunity in Cross Border Wealth Management for Independent Financial Advisors.”


These individuals and families have specialized needs and are subject to numerous and complex tax, legal, currency and planning issues, said Worldview, adding that a “severe” lack of financial planning solutions available to this group and a scarcity of professional advisors with the knowledge, skills and experience to serve them, has created a largely under-served need in the marketplace.


“Cross border families are a large and growing segment of the population in need of comprehensive wealth management services,” said Andrew Fisher, CEO of Worldview.  “Their unique circumstances require a knowledge of complex global tax and financial planning issues that arise due to these international connections.

Contributing to the growth of the Cross Border segment is the increase in globalization, as international corporations expand, along with global entrepreneurs being attracted to the technology sector in the United States.


According to the report, “Most cross border professionals with a connection to the US feel extremely frustrated with the unique complexities brought on by a worldwide tax system they are subject to…Most investment firms and large banks, both US and foreign choose to avoid this market completely because they are ill equipped to manage these unique situations and not staffed appropriately…because of these structural issues, this underserved segment presents a compelling opportunity for independent advisors who can partner with a specialized firm with these capabilities.”