The UHNW Institute’s Collegiums are programs designed to promote peer-to-peer idea sharing on thought-provoking practice management topics. The program’s format is facilitator-led, utilizing plenary and small-group breakout sessions.
Collegium VI will be an interactive program held virtually on April 24 from 3-5 pm EDT to discuss the complex practice management issue of client segmentation. The session will begin with a panel of firm leaders who have experience with client segmentation, conversing about various topics related to the theme. Attendees will then be moved into small breakout groups to afford attendees an opportunity for a dialogue of the following topics:
- Practical vs. theoretical approaches to segmenting UHNW clients
- How do you train advisors to serve new segments?
- Not just up or down (by AuM), but laterally as well – what are the tradeoffs?
- If by size, what are the pricing/economic implications(s)?
- Do you have expertise in-house to serve a target segment; if not, what are the staff implications?
- Do firms dilute their brands with multiple segments?
- Examples of successes and failures (plusses and minuses) with client segmentation
- When does leaving your “swim lane” disrupt your business – the “sirens” effect? What lessons did you learn?
- Who makes such client exception decisions?
After the breakout session ends, reports to the main session will take place, followed by a final commentary from the panel.
- Additional topics to be addressed during the Collegium may include:
- The risks of focusing on one or a few client segments
- Approaches for determining client segment profitability
Every Collegium aims to share, learn and advance the industry. In this case, we anticipate attendees to take home a practical client segmentation idea or adjustment to their current practice they can readily incorporate into their business.
Institute members can register, as well as access pre-reading and recommended Collegium resources, by visiting the event’s page here.
Meet the Panelists
Rebekah Kohmescher
CEO and CCO, Altair Advisers
Adam Lewis
Executive Managing Director, Pathstone
Gary Poth
Head of Key Family Wealth, Key Private Bank
David Salsburg
Partner, Founder and President, Gresham Partners
