Wealth Management Solutions

The wealth and upper markets are the fastest growing client segments in financial services today. Yet most private banks’ operating results are at a near standstill position. While a sustained bull market single-handedly produces portfolio “growth”, the real declines in both market share and client share-of-wallet are obscured – and a realistic sense of urgency is suppressed if not averted.

To challenge the competition, successful companies must align and integrate personal service, relationship development, and operations support structures and processes from a client-focused perspective. But the obstacles to success are immense…

Old organization models structured around products and operations instead of clients; incentive and “turf” barriers that discourage cooperative referrals of high potential clients; poor job designs that limit relationship managers to as little as 25% or even 15% of their time spent developing relationships and new business; loss of focus on local markets due to post-merger regionalization of management; uncompetitive information delivery; and ineffective use of technology.

A newly merged global bank needed to integrate all private banking operations, including trust, investment services, and client management. Relationship positions were redesigned to remove administrative tasks and increase sales productivity. A management process was implemented to establish account loading, track profitability, and migrate clients across affluent, upper affluent, and wealth service levels. Processes and operations were redesigned to implement best practices while achieving cost savings in excess of $80 million per annum.

• Developed and implemented plans to launch a start-up, emerging affluent program with superior results
• Integrated two merging organizations and implemented best practices to establish a unified sales organization and culture, supported by a reengineered operations infrastructure
• Analyzed operations and business processes, and designed customer-centered delivery capabilities that improved service quality while reduced overall costs
• Surveyed client objectives and information requirements to completely redesign reporting and information delivery systems for simplicity, flexibility, and user-friendliness in accessing any level of information and detail
• Trained private bankers in selling to affluent/wealthy customers to optimize revenue development and client retention

GPE worked with this client to meet all of their challenges and implemented strategies for portfolio growth, high-quality services, and streamlined operations, which resulted in improved total business performance. Our consultants partnered with management to provide the programs and insight required for a smooth transition of new responsibilities and functions within the organization.

Our consultants have conducted over 480 consulting projects in 42 countries. Experience and knowledge, partnered with client commitment and ownership, have led to positive change and sustainable results – on time and on target. Working in conjunction with wealth management and private banking executives, our consultants ensure corporate vision and objectives are carried out, creating real solutions that produce real results.