High-net-worth individuals want the same serious service as institutions and Francis Claessens’ London Wealth Peer Group is leading the fight
By Pirkko Juntunen
The London Wealth Peer Group is the brainchild of Francis Claessens, who set it up in 2008 as a way to bring together a group of high-net-worth individuals (HNWIs). One of the goals is to create common buying power and be able to negotiate more institutional-like fees from asset managers, including hedge funds. The operation is based on a collective bargaining power that shares knowledge and connections.
In an increasingly complex investment environment, high-net-worth individuals are focusing their efforts on value for money from their asset managers and other service providers, particularly as the complexity of the products on offer increases. Claessens, a Dutch national now living in London, points out that private investors are most shaken by the 2008 blows to hedge funds...