Practice Management: Why Innovators Pounce When Growth Slows
July 28, 2023 | Megan Carpenter | Wealth Management
If you want to see how business leaders respond to a volatile climate, there’s no better vantage point than a room full of entrepreneurs.
I’ve had the privilege of belonging to my local 180-member chapter of Entrepreneurs’ Organization. EO Los Angeles has been an amazing experience for many reasons, not least of which is giving me a front-row seat to watch how different owners approach business cycles.
Right now, the wealth management industry is on an uphill climb. Volatile markets, failing banks, rising prices and mortgage rates, and a long war all have consumers nervous. By the end of last year, high net worth individuals lost over 7% of their wealth, according to a Capgemini survey. They turned way more conservative, with 67% now putting wealth preservation first.
