The UHNW Institute is pleased to feature our quarterly conversation highlights with Bill Wyman, President of Family Office Services at Summitas, LLC and Advisory Board Member at the Institute.
Bill shares his thoughts on current and future trends, the obstacles and changes he sees within the industry and more.
As it pertains to UHNW client needs, what are the most significant trends you’re seeing now?
In two words: engagement and integration. The UHNW space has always been, and will always be, centered around people. Today, we’re seeing a strong emphasis on deepening client engagement—understanding their evolving needs and delivering meaningful, personalized experiences. In a fast-moving, complex world, technology plays a key role in enabling this level of engagement—providing secure, seamless access to critical information anytime, anywhere.
The key to making this work? Integration. Clients and advisors alike are demanding a more unified view—bringing together data from multiple, often siloed systems. By integrating these sources, we’re able to present clear, real-time insights that help clients, and their advisors make more informed decisions with confidence. It’s not just about access; it’s about clarity, context, and connection.
Due to those needs, what are the biggest changes happening NOW within the industry, and how will they impact the families we serve?
The industry is undergoing a meaningful shift toward greater collaboration and cross-disciplinary alignment. There’s a growing recognition that we can no longer operate in silos when serving UHNW families. Their needs are deeply interconnected—investment strategy, trust and estate planning, governance, accounting, and more all influence one another. To deliver truly best-in-class service, we must take a holistic approach that reflects this complexity.
This shift is being championed by thought leaders across the industry, including The UHNW Institute, whose Ten Domains of Family Wealth framework underscores the importance of integrated thinking. As this mindset becomes more embedded, families will benefit from more thoughtful, coordinated, and comprehensive support that reflects the full spectrum of their needs and aspirations.
Tell us about the SFO Initiative and why the Institute is focused on it now.
SFOs and the families they serve drive what we do. The Institute therefore had to take its focus on what’s important to them. We put together an SFO Advisory Board comprised of the leading family office executives that represent a wide array of families – multi-generational, large, small, those with operating business, and those focused on investments. They have become a key voice on the direction of The Institute. In one example, they helped formulate a series of clinics focused on the most pressing issues. Examples include one on risk management and we’re gearing up for one that is becoming more important every day – AI!
How do you envision this industry will be disrupted? AND How can the Institute support the pending industry changes rather than be blindsided by them?
The wealth management industry has always evolved through waves of innovation and disruption—and we’re on the cusp of another major shift.
Emerging technologies, particularly in artificial intelligence, are rapidly reshaping how we think about client service, operations, and decision-making. One striking example is the rise of Agentic AI—a transformative advancement that brings intelligent systems capable of autonomous action. Its implications for the family office space could be profound, touching everything from data analysis and security to governance and communication.
The Institute is uniquely positioned to help the industry anticipate and prepare for these changes. By harnessing the deep expertise within our community, we can identify early signals of disruption, convene forward-thinking leaders to discuss the implications, and translate those discussions into actionable insights.
Rather than being caught off guard, our goal is to ensure members are informed, prepared, and empowered to adapt their strategies. Through events, research, and shared knowledge, The Institute serves as a critical forum for understanding what’s next—and how to respond with clarity and confidence.
What will the integrative wealth management industry look like ten years from now?
I wish I knew! If I had that prognosticative ability, I would have bought NVIDIA, AMD, and NETFLIX stocks, among others, 10 years ago. Or thought of inventions such as YETI coolers and tumblers. All I know is that The Institute will be at the center of the future in wealth management through its members that are driving change, and integrating services to enhance the industry, and ensuring they provide real value to our clients.
In order for this industry to better serve UHNW clients, what infrastructure can you envision needs to be built to train and develop the ‘integrated advisor?’
It’s a blend of structured training and hands-on experience—just as it has been for generations. Nothing compares to the growth that happens when you’re solving real, everyday challenges on behalf of families. That said, foundational training is just as critical. Early in my career at JPMorgan, I benefited from a variety of programs that shaped my professional development—from public speaking and effective writing to understanding personality frameworks like Myers-Briggs and learning how to “flex” my style to better connect with others. I still rely on those lessons today.
The Institute plays a vital role in this infrastructure. Whether through its Annual Symposium, Executive Roundtables, or focused SFO Clinics, it provides unique educational opportunities that simply don’t exist elsewhere at the same depth or scale. The Institute not only informs but equips advisors with the cross-disciplinary knowledge and peer exchanges needed to evolve into true integrated advisors—something the next generation of UHNW families will increasingly expect.
When looking for talent within your firm, what are the three key traits you’re looking for?
We focus on three core traits: capability, initiative, and cultural fit.
1. Capability (“Can Do”) – We look for individuals with the technical skills and experience to navigate the nuanced needs of our market—particularly the world of family offices and families of wealth. These clients require a thoughtful, highly tailored approach that not everyone intuitively understands or can deliver.
2. Initiative (“Will Do”) – In our fast-paced and close-knit industry, we rely on colleagues who are proactive and ready to contribute from day one. We don’t have the luxury of extended ramp-up time, so we value self-starters who take ownership of their work and follow through on responsibilities without constant oversight.
3. Cultural Fit (“Fit In”) – While this comes last, it’s equally vital. Our industry is known for its deep camaraderie and mutual respect. We truly enjoy working together, learning from one another, and sharing in each other’s successes. That dynamic stems from the strong cultures within our firms—and we look for team members who will enhance and uphold that spirit.
Together, these qualities enable us to consistently deliver the world-class service our clients expect and deserve.
Share a time you/ your firm ‘missed the mark’ or failed, and what did you learn from it?
During my MBA program, I took a course on conflict management where we explored different strategies for navigating tense situations. One key takeaway was the power of acknowledging fault when appropriate—something that stayed in the back of my mind until I found myself in a heated exchange with a neighbor over a delivery truck using his driveway to drop off my cord of wood. He was visibly upset, and I was ready to defend myself—until that classroom lesson resurfaced.
Instead of escalating, I simply said, “You’re absolutely right, and I was wrong.” The shift in his demeanor was immediate; the anger dissipated. That experience taught me a valuable lesson: owning your mistake can be disarming and productive.
Since then, I’ve applied this principle in professional settings. Whether with clients or colleagues, taking responsibility when we miss the mark builds trust, diffuses tension, and opens the door to more constructive conversations. It’s a simple but powerful tool that’s become a cornerstone of how I lead by example and collaborate.
Why did you join the Institute?
When I was first approached, I was genuinely honored—and admittedly surprised—to be invited. I had always viewed the members of The Institute as being in a league of their own, and I wasn’t sure I belonged in that company. So I accepted quickly, before anyone could change their mind!
Since joining, I’ve come to see The Institute as an extended community of thoughtful, dedicated, and exceptionally talented professionals. The collaboration, insight, and generosity of spirit within the group have been both inspiring and educational. I continue to learn from my fellow members and only hope that, in return, I can contribute meaningfully to The Institute’s mission and ongoing impact on the industry.
Share one fun or interesting fact about yourself that few people know.
When it’s bedtime with any of my four grandkids, we have a sweet little tradition: after reading at least three books—Berenstain Bears and Love You Forever remain all-time favorites—I sing Too-Ra-Loo-Ra-Loo-Ral (That’s an Irish Lullaby). It’s become a special moment for me every time, and one I treasure deeply.
Bill Wyman
President of Family Office Services
Summitas, LLC
