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Online adviser hub targets UHNW clients

Online adviser hub targets UHNW clients

Virtual family office Family Bhive is offering advisers a hub with which to attract ultra high net-worth clients online.

Founder Caroline Garnham claimed advisers could use a professional personal profile on the site as a way of appealing to the UHNW community.

She said: “Advisers tend to forget that UHNW individuals struggle to find advisers as much as advisers struggle to find clients.”

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She claimed advisers could use a profile to promote work they had carried out for clients.

Earlier this year a report suggested the demand for specialist tailored advice could increase because of a growing number of high net-worth individuals in the UK.

The 78-page New World Wealth paper, The UK 2014 Wealth Report, found that the number of people with net assets of US$1m (£654,719.93) or more could rise from 828,000 in 2013 to 947,000 by 2017.

Adviser view

John Salmon, head of financial services at London-based Pinsent Masons, said: “Online platforms are a really effective way of keeping in touch with clients. Advisers need to remember though that the same legal and regulatory rules apply online as they do offline.

“Rules around financial promotions and investment advice are the same, so it is important to consider how far you can go.”