Wealth management advisory group Arnheim Gillard has launched a holistic advisory service for the ‘high income professional’ (HIP) market.
To be spearheaded by Michael Swinsburg, who joined the firm late last year, the new service is essentially based on “seven key HIP needs” identified by Arnheim Gillard research.
The seven identified needs include a “tailored wealth plan that takes into account present needs as well as building future wealth, allowing for life and career changes”.
Among the others are “proper debt structuring and management and divesting non-deductible debt as quickly as possible, and risk management to combat the high level of under-insurance amongst HIPs”.
Managing director Rick Arnheim said the group’s “extensive work with high-net-worth clients, including many senior executives, had highlighted the need for a systematic approach to HIPs”.
“Our preliminary findings tell us that HIPs are quite different to pre-retiree clients in that they demand high levels of service, but at the same time want to be involved in decision making.
“They are driven, decisive, savvy individuals and they expect their advisers to take on the role of ‘wealth manager or coach’, working in partnership with them to build wealth in a disciplined manner.”
Arnheim Gillard is conducting further research on the HIP market and plans to release a research paper later this year, according to a media release.
