The client


A well-respected regional bank founded over a century ago was seeking to modernize and standardize its wealth management approach.  It had developed under a silo-ed structure (bank brokerage, bank trust, asset management) that presented clients with a disparate patchwork of offerings, experiences, pricing and investment protocols.  Organizationally, it had overlapping functional responsibilities in some areas, and gaps in others. Recognizing ongoing competitive and regulatory challenges the Head of Wealth Management decided that he needed to deliver more consistent client and investment experiences and higher levels of value and service, by reorganizing and re-equipping his teams under a “One Wealth” business model.

Simplifying  Operating Models to deliver Competitive Advantage

Outcome


We Head of Wealth Management and his leadership team accepted our Target Operating Model and, together, we began execution of the downstream organizational, investments and technological tasks.  We continue to be of service to the bank.

The client


​​A well-established asset management company providing investment strategies also offered wealth management services through a turnkey asset management platform (TAMP). When the leadership team decided to sell the TAMP, they turned to wealth-reports to clarify and optimize the new operating model.

How we helped


wealth-reports assessed the business, and prescribed simplification.  While selling the TAMP was the right first step, it was the first of many to ensure that firm mobilized around its asset management capabilities and away from its legacy wealth management / advisory model.  To that end, we developed a target operating model defining a streamlined business model with

  • A rationalized product set; based on enhanced investment research
  • Resource re-allocations, in favor of investment management and highly targeted sales and distribution, and away from operations and technology
  • Clearer leadership responsibilities with greater commitment to financial accountability


We delivered a detailed road map with clear action items to achieve this vision.

Enabling the “One Wealth” Bank

Outcome


The client has now effected many of the changes we recommended and is seeing significant growth in asset, productivity and distribution, including new relationships with gatekeepers. As importantly, the leadership team has agreement and clarity on the future of their business, and is better positioned to make strategic decisions and trade-offs.

How we helped


wealth-reports analyzed the the business, in terms of organizational (structures, roles, responsibilities, compensation), investment and product offerings, capabilities and business processes (how client, advisory and operational experiences are delivered) and platforms (technology tools).  Next we used our target operating model framework to communicate a clear vision for organizational, capabilities and technological change

  • To change the bank’s perspective from a product and internally-focused orientation to a customer-needs focus
  • To break down traditional bank brokerage, trust and asset management silos while ensuring a clear divisions between manufacturing and distribution functions to avoid conflicts of interest
  • To augment capabilities and provide teams with the optimal set of tools and technology to deliver excellent, highly scaleable customer experiences


We provided a business case and a detailed road map with clearly actionable steps to facilitate the bank’s implementation.