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Middle East Wealth Management Forum 2020 - Exclusive Insights - Vinod Krishnan

Vinod Krishnan of Arch Corporation

Jan 31, 2020

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1. What trends do you see in GCC families being prepared to pay fees for services and advice?

Video transcript

1. What trends do you see in GCC families being prepared to pay fees for services and advice?

Traditionally it's been the banks that have been advising these clients on structuring their portfolios and their wealth, for which the fees were included in all the other services that would have been otherwise paid for. So with independent advices coming through, and with the ecosystem in and around the financial centres developing, most of the service providers are realising that there's a resistance to pay actual fees. So the way we have done it over the years is we broken down deliverables into components, and instead of a broad based fee for the entire solution we charge them or quote for specific components of the overall services that we'd like to provide. And most often than not, the families are willing to pay for the specific components because they see the clear deliverables.

 

 
 
 
 

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