David Scott, Founder & Chairman of LGT Vestra
, gives one important advice: try to start your business with a really good PR campaign at the best moment- it didn't go so well for Vestra, because they launched in 2008, while the Lehman Brothers crisis was happening around them. "But we had some major goals, like the recognition that the money we are entrusted to manage, is always the clients' money. We wanted neither kickbacks and retrocessions nor conflict of interest."
Their approach worked out. There are also other points which Scott emphasizes: not only is it crucial that clients have to love being a client of you, also your workers have to love working for you. "Focus on long-time relationships, on respect and on mutual benefits - that brings success to everybody in the end. And, what is most important: never give up!