Dow Jones Wealth Management Advisory Council Unveils ''High-Net-Worth Hurdles of 2006''.

NEW YORK -- Highlights Advisors' "Growth Gaps" in Community Relations, Minority Markets and Resource Networks

The Dow Jones Wealth Management Advisory Council, an industry group dedicated to promoting the practice of wealth management, today unveiled its "High-Net-Worth Hurdles of 2006" list, profiling the biggest challenges that wealth managers and their high-net-worth clients will face in the new year.

For high-net-worth investors, the council identified three challenges for 2006:

--The alternative minimum tax (AMT).

--Medicare and long-term care.

--Money-management skills of high-net-worth client's successor generation.

"The AMT and Medicare will be tying managers and their clients in knots next year as they try to squeeze all the variables into the lowest cost strategy," said Joe Montgomery, council member and director-investments at Wachovia Securities. "Investors must continue viewing their financial strategies through the lens of their specific priorities versus raw performance. For example, there is the looming problem of their children's ability to responsibly manage money and inheritances. In 2006, advisers would do well to address tax and health-care planning with their clients, as well as help their clients think through the steps to fiscally educate their heirs in preparation of wealth transfer."

The council also highlighted the three largest "growth hurdles" wealth managers need to close to ensure a successful 2006:

--Community relations.

--Marketing to new sectors.

--Building professional communities and resource networks.

"When it comes to growing their practices, wealth managers too often ignore their own backyards," said Patricia Bell, council member and senior vice president, investments, at Merrill Lynch. "Strengthening ties in your community by joining charitable causes or neighborhood organizations is one of the best ways to attract clients and build loyalty. Learning more about the community also opens doors to overlooked slices of the market, such as women and minorities, which are growing in economic power. Wealth managers also need to build up their professional communities of legal, tax and health-care experts to ensure their clients never have to search for information outside their trusted adviser's domain."

Anthony DiValerio, council member and senior vice president at UBS Private Wealth Management, invited wealth managers to offer their own thoughts on the issues they'll face in 2006.

"A big part of this council's mission is to encourage debate on the problems wealth managers face and the approaches that can solve them," Mr. DiValerio said. "We look forward to hearing from experts across the industry on how the council can serve as a useful forum for discussing these challenges and finding solutions to shared issues."

About the Dow Jones Wealth Management Advisory Council

The Dow Jones Wealth Management Advisory Council is an industry group dedicated to promoting the practice of wealth management, facilitating industry discussion, driving innovation, and representing the needs and concerns of the profession. The Council draws its members from the most successful practitioners in wealth management, as well as experts from leading research and consulting organizations, including academia. The Council is hosted by Dow Jones Newswires. Information about the Council is available at www.djwmac.com.

About Dow Jones Newswires

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