Firm introduces plans to expand existing team
and services catering to UHNW clientele
NEW
YORK, Jan. 29, 2024 /PRNewswire/ -- Bernstein
Private Wealth Management (Bernstein), a unit of AllianceBernstein
L.P. (NYSE: AB), today announced the expansion of its
Ultrahigh-Net-Worth (UHNW) Platform with an offering designed to
help clients navigate the growing complexities of wealth and build
a multigenerational legacy.
Bernstein's UHNW Platform currently serves more than 1,290
individuals and families with an average client tenure of 12 years
and more than $37.9 billion in total
assets. With the renewed focus and expansion, the firm will
continue to grow this client base by introducing bespoke solutions
tailored to the needs of UHNW clients including family offices and
global families. This initiative is supported by a new UHNW Service
Team, the appointment of senior executives, and an expanded focus
on family governance research.
"We saw a need to consolidate our existing expertise in a center
of excellence and more proactively get ahead of the complexities
facing our wealthiest clients with a dedicated service team and
additional resources personalized to this group," said Onur
Erzan, Head of the Global Client Group and Private Wealth at
AllianceBernstein. "Clients today are increasingly looking for a
unified wealth plan centered around legacy with the understanding
that complexity is not always financial. That's why our evolved
UHNW Platform offers a more holistic approach to not only manage
wealth but the anxieties that come with that wealth."
Under the leadership of Aaron
Bates, a 25-year veteran of the firm, the Platform will
sit at the nexus of the firm's existing UHNW, Family Offices and
Global Families services, bringing together Bernstein's breadth of
expertise across practice areas into one centralized resource. The
Platform will continue to leverage Bernstein's extensive wealth
planning research, including new insights into family governance
such as its latest "Family Governance: Lessons from Families Who
Have It Figured Out."
The newly created UHNW Service Team will be exclusively
available to clients of the UHNW Platform. Designed to have a low
client-to-professional ratio and centralized to elevate and
innovate best practices, the team will ensure a fully personalized
experience and prioritize supporting UHNW clients as they plan for
and live with their wealth.
"Far too often, the financial advice model ends once an
investment or transaction is complete," said Tara Popernik, Senior National Director of
UHNW Services. "In our view, however, that's when it truly begins,
as wealthy individuals and families look for something more than
just investments: they need help navigating the transition from one
chapter to the next as well as monitoring and maintaining the
entities and strategies they initially set up to achieve their
goals. Bernstein's decades of expertise in planning for these
transitions and executing on that plan will continue to grow with
our expanded team."
In coordination with the expansion, Bernstein has appointed
three senior executives:
- Amanda Bohr, Director of
Strategic Partnerships. Bohr is responsible for spearheading the
Platform's partnerships strategy, expanding the UHNW service
offering to provide valuable, collaborative solutions to clients
beyond Bernstein's core services. Bohr has 13 years of
cross-industry experience, including eight years of Bernstein
tenure, and holds a graduate degree from Northwestern University's Medill School for Journalism, Media &
Integrated Marketing Communications.
- Jeremy Lam, Director of
Credit. In his role Lam will be sourcing, solidifying, and
interacting with all of Bernstein's credit partners with a view to
taking an advice-led approach to helping clients solve liquidity
needs through third-party partnerships. He brings over 24 years of
lending experience in the UHNW space and previously held senior
credit roles at Morgan Stanley, First Republic, and JP Morgan. Lam
attended Brigham Young University.
- Emily Neubert, National
Director of UHNW Services. Neubert will lead and develop the UHNW
Service Team as they increase the value and personalized service
delivered to UHNW clients. She will also drive long-term growth of
the Platform and continue to oversee Family Governance for the
firm. Neubert is a 11-year Bernstein veteran with 19 years of
industry experience. She is a CFP® professional and
holds advanced certificates from the Family Firm Institute in
Family Business Advising and Family Wealth Advising. Neubert
received a degree in Economics from Penn State
University.
Additionally, as of this month, Bernstein's over 230 advisors
will undergo a title change from "financial advisors" to "wealth
advisors" as part of the firm's evolution. On this change,
Rick Meyers, Head of Client
and Advisory, added: "We are redefining wealth management. For most
clients, their Bernstein advisor is so much more than someone to
turn to for their investments. We feel this title change is a
reflection of how our advisors holistically counsel our clients on
their assets, complexities, and successes to come, rather than a
singular investment or moment in time."
To learn more about Bernstein's expanded UHNW Platform, visit
Bernstein.com.
About Bernstein Private Wealth Management
Bernstein
Private Wealth Management advises ultrahigh- and high-net-worth
clients on planning for—and living with—the complexities that come
with significant wealth. Bernstein is distinguished among major
wealth managers by its expertise in navigating life's transitions
through a holistic approach. A flexible process—paired with
innovative research, sophisticated modeling, and cutting-edge
investment solutions—also set Bernstein apart. Headquartered
in Nashville, Bernstein is a business unit of
AllianceBernstein, which ranks among the largest investment
managers in the world, with offices in major world markets across
26 countries and jurisdictions and over $725
billion in assets under management.*
For additional information visit Bernstein.com.
*As of December 31, 2023
Contact:
Joanna Dingle
Head of Communications & PR Strategy
joanna.dingle@bernstein.com
Prosek Partners
Pro-bernstein@prosek.com
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SOURCE Bernstein Private Wealth Management