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Illustrative Wealth Management and Private Banking Assignments
UK Private Bank
Proposition and Brand Strategy

For a niche private bank we carried out research with existing customers and prospects to determine how the bank was currently perceived. From this we helped to strengthen the existing customer propositions, and in particular, new propositions in financial planning and on-line banking. (ref 388)

International Private Bank And Asset Manager
Growth Strategy

For this well-known institution, we carried out an assessment of the opportunity to grow the existing business providing upscale and VHNW banking and asset management services in the UK, Channel Isles and the Far East. We identified the priority opportunities and worked with the client to develop a bullish growth strategy that aimed to double revenues in 3 years. (ref 351)

European Private Bank And Asset Manager
Business Development and Funding

For this UK subsidiary of a French institution we determined the market opportunities for private client services in the UK. In the course of this, we developed a new approach to client segmentation based on behavioural factors, which was more suited to the clients profile and access to market. We then worked with the client to develop a business plan for achieving an ambitious set of growth objectives, which was used successfully to gain additional investment from the parent. (ref 352)

UK Private Client Asset Manager
Growth via Intermediary Strategy

This house wished to extend beyond its traditional means of attracting new clients through its relationship managers, into building a network of professional introducers. We interviewed partners in the leading tax practices, private client solicitors and estate managers to evolve a strategy and b-b proposition for building relationships with leading intermediaries that would lead to referrals. We also helped to develop the firm’s direct product and service strategy to ensure there was minimal conflict of interest. (ref 379)

Merchant Bank
Start-up Portfolio Management Business

Our client wished to assess the market opportunity for a new portfolio management service. This is a new proposition aimed at the growing pre-retirement planning market, which would give moderately affluent clients access to direct equity investment at reasonable costs. It will have a low-cost business model based on new back office technology. The work involved an analysis of socio-economic, cultural and employment practice trends, with an emphasis on the sources of income and wealth, in-depth interviews with employers in both the public and private sectors and focus groups with potential customers. On the basis of this, we were able to assess the main drivers and possible inhibitors of market growth, identify the requirements for gaining market access via employers, develop the workplace marketing processes to be used, and help redesign the customer proposition to reflect some surprising attitudes towards control. (ref 353)

Investment Manager
Growth by Acquisition Of Wholesale Funds

Following a market review, we were asked by this leading private client fund manager to help them form a strategic partnership with a UK institution with substantial funds to manage. We screened the sector for suitable institutions, contacted them with tailored approaches according to their individual circumstances and held initial confidential discussions with interested parties to refine the short-list and then worked with the client to negotiate and structure a suitable arrangement. (ref 354)

Retail Investment House
Building Relationships With Key Intermediaries

This leading investment house was losing out in the intermediary market to large life and pensions companies who had better relationships with the larger intermediaries. We interviewed the top 20 IFAs to understand their own account management issues and the decision-making processes at work throughout their often extensive organisations. We recommended a new approach to account management which was adapted to each account and which co-ordinated dedicated central contact with local relationships. (ref 380)

Bancassurer
Making Bancassurance work in Upscale Markets

We worked with the personal investment subsidiary of this leading bank to build a strategy for offering personal portfolio management services to upscale clients within their customer base. This involved qualitative and quantitative research amongst sales people, branch staff, customers and prospects, as well as detailed analysis of the competition, product profitability and channel economics. From this we identified a number of priority segments defined by a blend of wealth and attitudinal factors, via which the bank could double the scale of the existing business. We then helped to develop several new propositions for each segment and the associated sales, service and communications approaches. (ref 381)

UK Stockbroker
Opportunity Identification

For the UK’s largest stockbroker, we carried out a review of their business and its prospects in order to identify opportunities for growth in near and adjacent markets as an input to their own strategic planning process. This involved a detailed understanding of the contribution they made from their services, and how these combined to build a picture of customer profitability. We continued to work with the client on two new propositions: one in margin lending; the other in upscale banking. (ref 356)

US Stockbroker
Entry Into UK Upscale Investment Management

A large US stockbroker was considering an entry into the UK investment management sector. We carried out a detailed analysis of these markets identifying the key segments, their levels of liquid financial assets and the current investments, pensions and savings vehicles they were currently using. An aspect of this project of particular interest was to contrast both wealth levels and attitudes towards wealth between the US and UK markets. We identified the most attractive segments and product markets and helped the client to develop the entry strategy. (ref 355)

US Insurer
Entry into the UK Mutual Fund Market

For a leading insurance company we identified the growth potential in the UK mutual funds market. We then developed an entry strategy, and working closely with management, we identified customer proposition, sales and marketing strategies for the launch. (ref 382)

UK Stockbroker
Opportunity Identification

For the UK’s largest stockbroker, we carried out a review of their business and its prospects in order to identify opportunities for growth in near and adjacent markets as an input to their own strategic planning process. This involved a detailed understanding of the contribution they made from their services, and how these combined to build a picture of customer profitability. We continued to work with the client on two new propositions: one in margin lending; the other in upscale banking. (ref 356)

Direct Provider
Creation Of A New Business

This long-standing client was contemplating entry into the direct provision of financial services and wished to create a green field site business selling a range of investment products direct. We carried out extensive research into the direct market to understand the underlying drivers of growth and how these related to different financial service products. We also defined the operational parameters for success based on an analysis of the underlying economics with a particular focus on the economics of outsourcing, the effect this has on business risk and how this should be managed. We then worked with the client to develop a start-up strategy comprising customer proposition, sales processes, brand, customer interface and service. (ref 357)

US based Bank
Assessment of On-line Advice Entry Strategy

This institution had created a new online advisory service in the US for upscale individuals and wished to migrate it to the UK and then the Continental markets. We analysed the market for online services, the drivers of performance and likely reactions to pricing, and recommended significant enhancements to the basic proposition and an entry strategy. (ref 383)

Retail Bank
Cross-Selling to Existing Customers

For a UK retail bank we established a strategy for cross-selling protection and asset management services to their existing customer bases. This was based firstly on an assessment of the total spend of their current clients and on the banks’ share of this across a wide range of products. We then researched the most promising groups to understand their underlying attitudes to their relationships with the bank and their preferences for sales process, service and communication. (In particular, the client was very interested in the potential role of remote and electronic processes.) We used this information, combined with an analysis of product contribution and acquisition costs, to create a set of new product and service propositions with their associated sales and communications strategies. (ref 384)

Major Bank in Private Banking
Strategies for Private Banking
Subsidiaries of a Clearer

We carried out research amongst customers and prospects of three private banking subsidiaries of a clearing bank in order to help them to determine their strategy. This involved in-depth interviews with upscale individuals to understand their financial objectives and their attitudes towards wealth, service and the various brands available within the group. We then assisted the client in defining distinct strategies for each business, which involved a blend of new customer propositions and enhanced customer management tactics. (ref 358)

UK Private Bank
Development Of Payment Card Business

We advised this Bank on the advantages and disadvantages of issuing debit and credit cards, producing an income and cost model for each card type. We then advised the Bank on the merits of in-house card processing vis-à-vis outsourcing, assisted the bank in the selection of an appropriate outsourcer and advised on all aspects of the contract with the outsourcer. (ref 359)

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