Bernstein Private Wealth Management (Bernstein), a division of AllianceBernstein L.P. (NYSE: AB), has announced the expansion of its Ultrahigh-Net-Worth (UHNW) Platform, aiming to assist clients in navigating the increasing complexities of wealth management and establishing a multigenerational legacy.
Currently serving more than 1,290 individuals and families with an average client tenure of 12 years and over $37.9 billion in total assets, Bernstein's UHNW Platform is set to grow its client base by offering tailored solutions to meet the needs of UHNW clients, including family offices and global families. This expansion involves the establishment of a new UHNW Service Team, the appointment of senior executives, and an increased focus on family governance research.
Onur Erzan, Head of the Global Client Group and Private Wealth at AllianceBernstein, highlighted the need for a dedicated service team and additional resources personalized to address the complexities faced by the firm's wealthiest clients. The evolved UHNW Platform aims to provide a holistic approach to wealth management, focusing not only on financial management but also on addressing the associated anxieties.
Under the leadership of Aaron Bates, the UHNW Platform will integrate Bernstein's expertise across practice areas into a centralized resource, bridging the firm's existing UHNW, Family Offices, and Global Families services. The newly established UHNW Service Team will offer exclusive support to clients of the UHNW Platform, ensuring a personalized experience and prioritizing assistance with wealth planning and management.
In conjunction with the expansion, Bernstein has appointed three senior executives to drive strategic partnerships, credit initiatives, and UHNW services. These appointments aim to enhance the Platform's offerings and deliver greater value and personalized service to UHNW clients.
Furthermore, Bernstein has initiated a title change for its advisors, who will now be referred to as "wealth advisors" to better reflect their comprehensive role in guiding clients through various aspects of wealth management. This change underscores the firm's commitment to redefine wealth management and provide holistic counsel to clients beyond traditional investment advice.
Source: PR Newswire
