Are your high-net-worth clients truly getting what they need — or are they part of the 60% looking to switch advisors?
In this episode of Sterling Insights, Roger sits down with Paul Lofties, elite advisor strategist at CEG Worldwide. Together, they explore the massive shift in the expectations of high-net-worth entrepreneurs and what elite financial advisors must do to rise to the occasion. Paul draws from cutting-edge research and decades of experience to discuss how affluent entrepreneurs are outgrowing their advisors, what they’re really looking for now, and how advisors can elevate their practice through the virtual family office model.
This episode is a must-listen for financial advisors aiming to break into or deepen their work with high-net-worth clients, offering both a roadmap and real-world strategies to deliver transformative value.
Key Takeaways:
● 💼 Entrepreneurs Dominate the HNW Space: 90% of clients with over $10M are entrepreneurs — understanding them is essential to growth.
● 📉 60% Plan to Switch Advisors: Affluent entrepreneurs don’t feel served; a major shift is underway, and the door is wide open.
● 🧠 Advisors Must Become Advocates: Success in this space means coordinating a client’s entire wealth ecosystem, not just managing assets.
● 🧩 The Virtual Family Office Model Works: VFOs let independent advisors compete with wirehouses by tapping elite specialists on demand.
● 🧭 Succession Planning Is a Golden Entry Point: Few entrepreneurs have solid plans — this is a high-leverage opportunity for advisors to add value.
Quotes from Paul Lofties:
● "60% of high-net-worth entrepreneurs say they're likely to change advisors in the next two years — that's a massive opportunity."
● "The value proposition they want? Someone who will advocate for them and coordinate across all areas of their wealth."
● "You don’t need to be part of a trillion-dollar firm to deliver world-class value — you need the right structure and the right network."
🔗 Conclusion:
If you want to attract and retain high-net-worth clients, now is the time to evolve. This episode offers the mindset shift and tools to make that leap.
Connect with Paul:
Website: https://go.cegworldwide.com/ceg-sterling-podcast-play-to-win-call
Consultation: www.cegwin.com/sterling
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