Barron's Advisor Elizabeth Dennis: Helping Ultrahigh-Net-Worth Clients Adapt to Change
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Jan 14, 2025 Elizabeth Dennis, Head of Private Wealth Management at Morgan Stanley, shares insights on navigating the evolving landscape for ultra high net worth clients. She discusses the significance of tax-aware strategies in wealth management and the trend of companies remaining private longer. The conversation covers the demand for personalized investment approaches and liquidity solutions, as well as the growing trend of intentional philanthropy among wealthy families, highlighting how shared values influence their giving.
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Client Focus
- Ultra-high-net-worth individuals prioritize adapting to rapid change and leveraging resources for their passions.
- They focus on business growth, public roles, foundations, and utilizing high-touch services.
Evolving Client Needs
- Clients need comprehensive financial services beyond investments, including lending and estate planning.
- They also desire customized solutions tailored to their values and unique circumstances.
Private Company Access
- Companies staying private longer necessitates liquidity solutions for employees and access to private markets.
- Morgan Stanley leverages various channels, including workplace relationships and asset managers, for co-investment opportunities.