Case Study

Building a business strategy, roadmap and service model for ultra-high-net-worth clients.

The Challenge

A national wealth management firm was dabbling in the ultra-high-net-worth (UHNW) market, but opportunities generally came through one-off referrals or existing relationships. The firm did not have an established service offering, a business model, or internal processes to support the UHNW market segment on a larger scale.

Partnering with KWP, they were able to successfully evaluate the potential opportunity of expanding into this market. The process included creating an UHNW segment strategy and operating model that fit the firm’s support structure, advisor practice model, advisor recruiting model, and senior management requirements.  Our analysis showed senior management how the competition used various support models to attract UHNW clients and advisor practices and why it was necessary in retaining many large advisors practices that were successfully serving  UHNW clientele.

Our Approach

Our work included:
•   Understanding the competitive landscape
•   Assessing the best opportunities for the organization
•   Developing a business plan and presentation, ensuring senior management alignment
•   Building the business case and recommending a path forward

The Outcome

At the end of the engagement, the firm had a detailed roadmap, internal process diagram, business strategy, and service model for serving the UHNW segment. They now have a clear understanding of the target market, the opportunities it offers, and how they can best serve this select client group. Consensus on the work was positive, and when the team is ready to move forward, they have a well-defined path.

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