Wealth management & private banking

Overview

Wealth managers, private banks and platforms worldwide are all experiencing significant change. Commercial and regulatory pressure is driving efficiency, capability and improved controls. In this highly regulated industry, we advise clients on proposition development; client service and business improvement; the use of technology; risk controls and corporate governance. Our people have all worked in the industry and our specialism is born of real experience. We provide professional programme management and change delivery services using knowledgeable teams to give fast, effective results. We also provide unique expertise in organisation design and people development, proven to increase business effectiveness, enhance change outcomes and embed sustainable improvement.

Specialisms

Client service is considered a key differentiator for wealth managers, yet many firms struggle to be efficient. Whether your needs are the result of M&A activity, new systems or new propositions, we leverage our direct experience in client service and knowledge of downstream processes and regulations and we excel at streamlining processes and designing client service models.

Corporate governance is a hot topic in wealth management.  Many firms have still not engaged with a model that supports strategy, culture and control cohesively.  No matter which regime or location your firm operates under, we have a proven approach for assessment and improvement of board effectiveness and governance structuring.  We also provide team-building and individual coaching at board level to embed a culture of effectiveness.

We understand all of the required processes for client on-boarding and ongoing engagement.  We leverage our technology and data expertise to design and configure systems for the most effective digital experience. We advise on how digital and data innovation can help businesses and we understand how it is best applied to the industry.

Getting KYC right can improve your controls as well as your clients’ experience in on-boarding.  We help clients to tune their due diligence to reduce false positives and to ensure controls still pick up what they need to.  We support remediation projects with knowledgeable teams where there is significant work to be done.

In an industry where mergers and acquisitions are a constant consideration, we provide expert knowledge for pre- and post-acquisition advice and implementation. All our combined specialisms are brought to bear for proposition alignment, client service streamlining and to merge operational platforms effectively and cost efficiently.

We are experts in outsourcing selection and contracts negotiation in the wealth management market.  We know the suppliers, we know the solutions, we know the market commercials. We advise on getting the best outcome and leverage our proven approach and tools to ensure that all factors are considered in an efficient, but thorough, process.

Many firms resource important change programmes through individual contractors.  By contrast, we provide knowledgeable resources with the tools and plans to mobilise and deliver better, faster change. Our team can also be blended across the full range of our specialist knowledge and experience, covering all aspects of your programme, and ensuring our clients can leverage the best approach for the task in hand.

Our team have been advisers and investment managers themselves: we understand retail investors from dealing with them in practice. We help our clients to understand how their client and investment propositions fit in the market – aligning pricing, cost to deliver and an understanding of competitor propositions.  We work with clients from design through to product/proposition launch.

We advise on how regulatory change affects wealth managers, private banks and platforms.  Our specialism means we are able to determine how regulation can be applied pragmatically, without blocking efficiency and whilst retaining excellent client experience. Implementation of regulatory change can be significant.  We help clients understand how best to sponsor such projects and provide knowledgeable resources to deliver successful change.

Every firm should have a well-documented operating model.  We design organisational, functional, technology and data models to help clients get the best out of their business and platforms. We bring our tools and strawman to speed delivery, leaving our clients with this blueprint for future reference.  We also provide ongoing services to plan and manage change against it.

Wealth management and private banking systems are wide-ranging.  We provide knowledge of solutions, how they have been best applied, and detailed experience of integration challenges. We can help select the right solution (or combination) appropriate for your business and help you to implement it in the most efficient way.

Talk to our specialists