Firms across wealth management are eyeing the ultra-high-net-worth (UHNW) segment. The appeal is clear; the execution is not.
In Part 1 of this two-part kickoff to Season 2 of The Wealth Horizon Podcast, Rosemary Denney talks with Jamie McLaughlin, founder and CEO of J.H. McLaughlin & Co. and co-founder of The UHNW Institute, about the gap between marketing claims and operating reality.
They discuss why margins often compress as firms “move up-market,” how pricing tied only to AUM breaks down and where outsourcing supports quality without losing primacy. The conversation also looks at compensation systems, ownership and “relationship capital” and why scale can threaten client intimacy if firms aren’t deliberate.
In the episode, Rosemary and Jamie unpack:
- Why revenue grows but margins stall in UHNW service models
- Where AUM fees fall short and retainers fit better
- How to work with outside experts without losing primacy
- Why underused talent erodes profitability
- Collaboration vs. integration and why it matters
- Building the next generation through mentoring and incentives
For leaders looking to grow thoughtfully in the UHNW space, this conversation details what it takes to protect both quality and economics.
Links & Resources
What is The Wealth Marketing Podcast?
The Wealth Marketing Podcast (The Wealth Horizon Podcast) examines the trends, marketing practices and growth approaches shaping wealth management firms today. Hosted by Rosemary Denney, founder and CEO of Wealth Matters Consulting, the show features guest conversations and examples from the field that help financial advisors, RIAs and family offices strengthen client relationships and talk about their work without overcomplicating it.
As advisor marketing and online presence continue to influence how firms are seen, The Wealth Marketing Podcast offers support for wealth management professionals who want to improve visibility, communicate with purpose and keep their firms focused on the goals that guide their work.