A book just published simply entitled “Wealth”, provides a unique insight into the world of private client management, as it is written ...

A book just published simply entitled “Wealth”, provides a unique insight into the world of private client management, as it is written by a financial advisor to high net worth individuals, who is himself the heir to a fortune. Author Stuart Lucas is a fourth-generation heir to the Carnation fortune; the well-known brand of evaporated milk. As well as standing to inherit a fortune, Mr Lucas was the senior managing director of the ultra-high-net-worth group at Chicago-based Bank One. Its HNW banking division served 150 private clients, each of whom had fortunes of at least $25 million. Interestingly, the book discusses some of the protocols advisors would employ when pitching for the business of wealthy clients. The book, which has the lapel-grabbing subtitle: “Grow It, Protect It, Spend It and Share It”, carries a foreword written by Joe Mansueto, chairman and chief executive of Morningstar, the Chicago-based fund manager. "I expect the top wealth management advisors will read this book and share it with their clients. Better informed investors will choose better advisors, and they'll hold advisors to a higher standard," Mr Lucas added.