T?wo men recently separately embarked on a quest to solve the puzzle of how to make a business out of managing wealth for the very rich, but each is travelling on distinct paths.
The two wealth management experts are approaching the question from different angles, but both are finding that the world’s wealthiest families and the financial advisers eager to serve them are woefully mismatched.
Charles Lowenhaupt and James McLaughlin have each determined that the model most wealth advisers use is simply broken. It has always been hard to match demanding, fee-conscious and often savvy investors, who expect a smorgasbord of services, with firms that try to do it all and still make a profit.
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