From Wealth Creation to Wealth Management
As we graduate from the academic lifecycle we enter what is called the economic lifecycle. The economic lifecycle is made up of three graduating phases. The first economic sub-cycle is the “transition” phase from the academic to the economic and the beginning stages of career development. The second phase of the economic lifecycle is called the “wealth creation” phase. The third phase of the sub-cycle is called the “wealth preservation” phase.
Many are fortunate enough to be classified as Mass Affluent and High Net-Worth, yet are still not wealthy enough to be in the highly exclusive realm of Private Banking. This is where Non-Bank Private Client Lending fills the void in the market. Recognizing that wealth happens in phases based on where one is in life is key to understanding why so few private banking clients exist.
Private client lending unlocks the pent up demand shut out by regulations. This phase of the economic lifecycle is in the Wealth Creation cycle, and what’s needed isn’t private banking wealth management, but finance management for wealth creation.