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The American versus European wealth peer group approach
The growth in wealth peer groups in the US demonstrates it is a
fruitful approach for their members. They report that new information
and fresh angles allow better decisions to be made faster. However, to make the wealth peer group idea work here it needs adaptation. The differences in culture, legal framework, tax systems and investment opportunities on this side of the ocean require a different approach. For example the openness of some American wealth peer groups about private financial affairs does not always translate well in Europe. For generations London has attracted wealth and the big bang has produced a dearth of wealth management services. Those services attract high net worth individuals from all over the world. A London wealth peer group is now dedicateted to the constant improvement of their wealth management practices. | |
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