Masters in Business · Friday, September 25, 2026
Adam Frank argues that the wealth management industry's primary focus on investment products and performance against benchmarks overlooks clients' broader goals and purposes for their money. He stresses the importance of understanding what clients want their money to achieve rather than solely focusing on market returns.
“And what I see, what I saw in the legal practice and moving over into wealth management is really people have a purpose for their money or people have an idea about what they want their money to be able to do for them.”
“And if you can show them that they can do all of that and more, they can give charitably, they can get a fourth home, they do whatever, it's very freeing for them to not have to focus on investment returns.”
“But it's not the same skill set usually for somebody to be comfortable talking about the numbers, talking about the underlying fundamentals of a company or the alpha that this manager brings, right?”