HNW brokers ‘one generation from closure’ if they fail to engage new wealth

Failure to engage with high-net-worth clients that fall within the ‘new wealth’ category could see brokers disappear within a decade, unless they change their traditional mindsets.

That was one of the warnings during the panel ‘Educating the next generation of HNW clients’ at Insurance Age’s HNW Forum in London yesterday. 

Earlier at the event, Matthew Perkin, trading director, high net worth, art and collections at Hiscox noted a new generation of wealth – often entrepreneurs in their 30s and 40s – was booming in the UK.

He explained: “A decade ago, a typical or traditional HNW customer might have been from an established family with inherited wealth; they might have long