Firm introduces plans to expand existing team and services catering to UHNW clientele
NEW YORK, January 29, 2024—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.”
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.*
*As of December 31, 2023
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