If they have any understanding at all, it relates to buying individual stocks, bonds or mutual funds. They have no clue when it comes to asset allocation and modern portfolio theory. Advisors assume their clients have a much higher level of understanding then they really have. One of the most attractive services you can communicate to wealthy investors is asset allocation and portfolio management. The emotional payoffs they seek from these services are reducing their stress, the feeling of financial security and the comfort of knowing that a professional taking the responsibility of managing it all for them.
Nobody likes paying taxes.
And the wealthier you are, typically the more taxes you have to pay. The benefits they seek are tax reduction and more income or net worth. The deep emotional need is a feeling of fairness. The benefits they want are clearly defined goals and a blueprint for achieving them. The emotional payoff they want is a feeling of control over their financial destiny and a sense of purpose in their lives.