Behind the scenes of The Wealth Report
In November, Liam Bailey, Partner and Global Head of Research at Knight Frank and Andrew Shirley, Partner and Editor of the Wealth Report, spoke to Infinite Global about how the Wealth Report came into being and what it takes to produce a leading piece of thought-leadership and market intelligence, year on year. Click below to listen to the podcast.
2 minutes to read
When asked about the initial creation of the report concept, Andrew Shirley commented, “It was about starting a conversation with our clients, letting them know that we understood their aspirations and lifestyles rather than just their property needs. We were talking about things that interested them.
It's developed so much since 2007, as we've learned more about our clients during the process.”
Liam Bailey added, “Underpinning everything was a feeling that, whilst there were lots of banks and lots of consultancies producing reports, looking at the performance of financial assets and at the financial wealth portfolio, no one seemed to be doing the same thing with the property element of wealth, and that was where we felt we had an opportunity to bring new insight.”
Liam and Andrew were also asked about the value that a publication like the Wealth Report brings to a business: “The approach that we've tried to take with the report is to show the reader that ultimately we are significant players in all markets. This has worked very well in terms of a commercial positioning, as the report has developed hand in hand with the growth of our private office network in the UK, and increasingly in other global locations.
It's cemented across the business and with our clients, an understanding that Knight Frank is providing a long-term advisory role, as well as providing agency services in terms of buying and selling property.” Liam Bailey.
“People like to work with people who share their views. We identify what our clients are interested in, whether it's the environment or philanthropy, and cover those topics in the Wealth Report.” Andrew Shirley.
Is there a main focus of the Wealth Report, which acts as an anchor for the rest of the content?
“It’s what we call PIRI, the prime international residential index. This is an index of a hundred luxury residential markets around the world. We're tracking the performance of all of these luxury markets and that is undoubtedly a centerpiece of the report. Additionally, there is the Attitudes Survey of around 600 wealth advisors, family offices globally, which gives us a lot of data throughout the report, and drives many of the stories and narrative too.” Liam Bailey
Listen to the podcast here
The next Wealth Report will launch in March 2021.