Integrating Wealth Management in Financial Institutions: Case Studies

Integrating Wealth Management in Financial Institutions:
Case Studies (2019)

The collective wealth management businesses in financial institutions continue to disappoint the C-suite in many of their host institutions. Looking at the collective asset and revenue growth of all of an institution’s separate wealth management businesses—retail brokerage/investment services, Personal Trust, and asset management—both asset and revenue growth are underwhelming, as is penetration of the opportunity.  Kehrer Bielan estimates that the enterprise-wide wealth management businesses in the typical financial institution have captured only 6% of its customers’ investable asse

But more and more institutions are exploring ways to rationalize the delivery of wealth management, integrating the front, middle, or back offices of their wealth management businesses.  To help the financial institution wealth management community understand the breadth and depth of the integration underway, LPL Financial Institutions commissioned Kehrer Bielan to identify firms that are representative of the innovations in progress. 


We profiled a dozen institutions that reflect the opportunities that financial institutions have to enhance the client and advisor experience, capture a larger share of client assets, and grow stakeholder value. The profiles include information on the personal wealth management assets administered by each institution.  We obtained data on brokerage and advisory assets from our investment services benchmarking surveys, and Trust assets from the Call reports.  We tried to exclude institutional assets by including only personal trust and asset management assets, although the latter undoubtedly includes some institutional assets.


The case studies are based on information provided by executives participating in our wealth management study groups as well as executive interviews.