Bernstein Private Wealth Management Announces Expansion of Ultrahigh-Net-Worth Platform

Core Insights - Bernstein Private Wealth Management is expanding its Ultrahigh-Net-Worth (UHNW) Platform to address the complexities of wealth management and to help clients build multigenerational legacies [1][2] - The firm currently serves over 1,290 UHNW individuals and families, managing more than $37.9 billion in total assets, with an average client tenure of 12 years [1] - The expansion includes the establishment of a new UHNW Service Team and the appointment of senior executives to enhance personalized service and support for UHNW clients [2][3] Group 1: Expansion and Strategy - The UHNW Platform aims to consolidate expertise and proactively address the complexities faced by wealthy clients through a dedicated service team [2] - The platform will leverage Bernstein's wealth planning research, including insights into family governance [2] - The newly created UHNW Service Team will focus on providing a personalized experience with a low client-to-professional ratio [2][3] Group 2: Leadership and Team Structure - Aaron Bates, a 25-year veteran, will lead the UHNW Platform, integrating various services for a centralized resource [2] - Three senior executives have been appointed: Amanda Bohr as Director of Strategic Partnerships, Jeremy Lam as Director of Credit, and Emily Neubert as National Director of UHNW Services [3] - Neubert will also oversee Family Governance, enhancing the value and personalized service for UHNW clients [3] Group 3: Title Change and Holistic Approach - Bernstein's advisors will transition from "financial advisors" to "wealth advisors" to reflect a more holistic approach to client counseling [4][5] - This title change signifies the firm's commitment to addressing clients' broader wealth management needs beyond just investments [5] - The firm emphasizes the importance of navigating life's transitions and maintaining strategies to achieve clients' goals [3][6]