Lets not kid ourselves. We are not epidemiologists, scientists, doctors or politicians. We serve the interests and concerns of our clients – the UHNW community.
We are good at what we do, not because we go to an office or jump on an aeroplane –we have clients who pay for our services and products and believe in us.
Coronavirus may be disrupting the way we do business but it cannot change our expertise and knowledge. Coronavirus is therefore an opportunity to rethink what we are good at and then explore new ways of getting our message across - remotely.
Let’s take Filippo Noseda, our podcast professional of the week; he is a private client partner with Mishcon de Reya a law firm, in London.
Filippo is highly qualified as a private client lawyer. He was born in Switzerland, and is qualified in both Swiss and English law. But it is not his knowledge and expertise which sets him apart, he actually cares for his clients.
There are many professionals who are good at what they do, but do they care for their clients? Do they enquire as to the wider concerns of their client and do something about it? Filippo believes that everyone; rich or poor, has rights, such as the right to privacy and he is prepared to do something about it.
The rationale behind the ‘automatic exchange of information’ across the globe, is to track down those who evade tax. So why does it apply to people who have no tax to pay? Surely this is an invasion of privacy and the question needs to be asked as to whether this is an abuse of legislative power.
If we care for our clients, we owe it to them to build a wider knowledge base so that we can assist them in finding solutions for their problems - whatever they may be - and to build trusted relationships.
Wealth creators during this time of lockdown, need our support more than at any other time. What is worrying them? For example; how are business owners and directors responding to the Coronavirus challenge. One of my clients has redeployed his team of scientists to manufacture biosurfactants for home cleaning products.
LVMH has turned around its manufacturing lines at brands like Guerlain, Parfum Christian Dior and Givenchy to mass manufacture hand sanitisers for French hospitals. This will be remembered.
During World War II Marks & Spencer manufactured ration clothing for the British public, M&S was thereafter seen as a trusted brand. During these turbulent times how we react to the concerns of our clients will either help build trust or destroy it
Wealth creators take on risks, they make decisions and they are responsible for the majority of employment.
I have clients who are struggling to know what decisions to make with regard to surplus staff.
Levi, Lush and Apple for example have reassured their staff they will get paid despite store closures. Richard Branson, on the other hand, at Virgin Atlantic has told its 8,500 staff to take eight-weeks unpaid leave. How many people following this disruption will buy Guerlain scent, Levi jeans or fly Virgin Atlantic?
My vision is for us service and product providers to the UHNW community to come together on one platform ‘How to keep your Money’ so that collectively we can care for our clients, win business and build trusted relationships.
I want the trusted art dealer to recommend Filippo to his client who is concerned as to how to leave his art to his children. And if Filippo has a client who is concerned about the future of the UK as a trading nation, he can introduce him to the services of Martin Territ former EU ambassador from the EU to Ireland.
Ed Little in his podcast talks about finding the why in what we do for our clients.
If I were to ask myself why I care for the UHNW community - I would say that they are people; they have concerns and worries, but their concerns and worries are different from most of us. They face challenges that most of us will never come across but collectively we can care for them.
If you would to find out more about our Podcast Professionals or would like to join our project to create the definitive podcast library of information for the UHNW community contact deborah@garnhamfos.com or call 020 3740 7423.