Wealth Management Operating Models

Jun 30, 2021 CEO Perspective: Q&A With Ten Lifestyle Group Article Concierge services for UHNW clients are a key part of providing a feel of exclusivity, enhancing client engagement and developing closer, stickier relationships. However, our research shows that these services have fallen out of favor with the wealth managers and private banks we evaluated for this year’s benchmarking. Only 43% of our case selection promoted access to concierge services and, of these, even fewer offered a concierge service with digital access. To learn more about the benefits that concierge services offer wealth managers and private banks, Onawa Lacewell, Cutter’s Senior Research Analyst and Wealth Lead, spoke with Alex Cheatle, CEO and co-founder of Ten Lifestyle Group. The London-based company offers both B2B and B2C outsourced travel and lifestyle concierge services. What follows is an edited version of our conversation. Jan 14, 2022 Wealth Management Operating Models Report Wealth managers today are under increasing pressure and face fierce competition. Plus, expectations have changed, with investors demanding more. For some managers, legacy technology and process inefficiencies hamper their ability to respond to a changing industry ─ and they'll need to transform their operating models to future-proof their businesses.