More Wealthy Individuals Using Financial Quarterbacks

In the wealth industry, “financial quarterback” is a cliché term for the idea that advisors coordinate a client’s other financial service providers.  Morgan Stanley and Campden Research recently did a study that discovered this approach is gaining popularity among the wealthy – 42% of families are using a quarterback.  Older generations usually choose accountants and private banks or trust companies to be their quarterbacks while younger generations use multi-family offices. 

Though most wealthy families have one primary advisor for money management, they also spread some of their assets around among other satellite advisors in attempt to diversify risk and gain access to different investment strategies. 

See Kristen French, Really Rich Really Want Financial Quarterbacks, wealthmanagement, Jun. 28, 2012.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.