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Protecting The Client: Why It's Much More Than Guarding Money

Tom Burroughes, Group Editor , 24 January 2020


This news service is looking at a variety of topics that collectively come under the title of "protecting the client". In coming days we'll explore a range of issues that explore what advisors and organisations to do protect people's interests, going beyond money and taxes.

Other protections involve reputation, physical safety and the whole world of cybercrime. There is no point, after all, of achieving high investment returns for a client if they fall foul of hackers, have money stolen by an employee with a grudge, or are kidnapped. And in this space there has been rapid growth in a cluster of firms offering services to protect wealthy clients in their homes, their offices and travels, advising them and their families about using social media wisely, avoiding mistakes in the use of IT, and managing their reputations. Reputation protection takes us down the well-trodden path of libel law, for example.

There is now a growing field of “reputation management” that focuses on the online world. Firms are selling services which aim to hide or change negative search results on a person’s name. This is controversial stuff, but protecting the client can be. 

The idea of protecting the client must, of course, acknowledge traditional “safe money” areas such as the use of offshore centres, but with Swiss bank secrecy a dead letter internationally and registers of beneficial ownership pushing forward, financial privacy is under threat as never before. There is some pushback, and we will continue to track such issues in features this year and in the future.

Protecting the client is about much more than simply managing money. We hope that our articles prompt readers to suggest areas that they would like us to focus on. Email tom.burroughes@wealthbreifing.com and jackie.bennion@clearviewpublishing.com 


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