In-depth - high net worth: Moving on up
High net worth and ultra high net worth clients have a lot in common, but brokers have to up their service levels and get to grips with new specialisms when dealing with oligarchs and the international jet set
High net worth (HNW) is a lucrative sector for many brokers but there is an even deeper pool to dive into – ultra high net worth (UHNW).
John Sims, formerly of Chubb, who recently set up his own brokerage Vizion, explains that there are key differences between UHNW and HNW clients.
According to Sims the two groups will lead similar lifestyles but there are variations in how much they spend.
“It’s about degrees,” he explains. “A HNW person might have a Sunseeker yacht worth £500,000 whereas
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