Business ownership is the most common source of wealth for households in the high-net-worth and ultra-high-net-worth segments. As such, business owners are among the most attractive prospective clients for wealth managers. Compared to broker-dealers and registered investment advisors, bank-affiliated wealth managers are in a privileged position for winning business owners as clients because of their proximity to the commercial bank of their parent organization.
This report examines the potential that business owners hold as wealth management clients. In particular, it discusses how bank-affiliated wealth managers can capitalize on the business owner opportunity, and it provides three case studies of bank wealth management groups that have utilized formal partnerships with their affiliate commercial banking arms to successfully target business owners. It is based on two Datos Insights surveys and conversations with wealth management executives.
Clients of Datos Insights’ Wealth Management service can download this report.
This report mentions BNY Wealth and Northern Trust.
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