High Net Worth
High net worth client needs are complex and highly demanding. Succeeding in this intensely competitive sector requires attracting and retaining managers and advisors with the specialist expertise demanded by these clients. It also requires understanding where your firm and advisors can improve their performance so that plans can be implemented to address these opportunities and trounce their competitors.
We advise high net worth firms and private banks on performance improvement and compensation issues and particularly how to align pay with performance. We have extensive experience structuring private banker and HNW advisor, product specialist and executive compensation and specialize in performance pay plans. Selected engagements include:
Global Private Bank Relationship Manager compensation plan
Product specialist compensation plan
Compensation spend analysis
We conduct customized studies that examine special pay and performance topics. Selected studies include:
Private Banker Recruitment: Measures private banking Relationship Manager recruitment compensation levels and structure and recruit performance standards.
MBA/BA Compensation: Measures MBA and Undergraduate program pay levels and benefits.
Trust Study: Describes Trust business organization as well as job design, pay practices and pay levels for key trust positions.
High Net Worth Market Report: Tracks market share of assets, revenues and advisor, advisor productivity by experience level, product productivity for HNW firms.
Private Banker pay simulations: Evaluates firm pay plans by simulating payouts under the plan versus payouts of competitors’ plans for a range of RM performance levels.
Private Banker Pay and Performance: Measures private banking RM, Portfolio Manager, Trust Specialist and BDO performance and pay at each performance level. This report also ranks individual incumbents based on performance and pay relative their peers in the industry.
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