"Families are lost."
After exiting their source of wealth (most typically a 9-digit business), the FO/UHNWI doesn't know where to park the capital.
Investing is another profession altogether. In the absence of knowledge, most ask JP Morgan to manage their money for 7% p.a. returns. This is especially true outside the US, where alternative investing is (even more) obscure.
A more strategic approach should yield 12-15% p.a.
When you interact with an FO, acknowledge that they are somewhere on their learning journey. You might not only be a deal, you might also be their conduit into a new asset class. Ask questions. Figure out how you can fit into and help them evolve their strategic investing.
