Private Banking & Asset Management

The Asset Management industry currently faces continuous and important challenges leading to distinctive trends in the market:

Financial institutions’ strategies are evolving toward more specialized, complex, and new emerging business models

• Execution complexity (STP, open architecture, integration across platforms, centralized Back Office operations, …)
• Sharper delineation between product factories and distributors, due to the need for economies of scale
• Increased use of outsourcing in administration, support services, IT and customer services
• Increased competition and convergence between the different players

Technology is progressively becoming a key element in financial institutions’ strategy.

Nevertheless, it is difficult for top management to draw the line between what needs should be fulfilled with banking packages and what should be kept under the organization's control. This generates costs and destroys value.

• Availability of mature software solutions which support specific Private Banking activities (Wealth Management, CRM, portfolio management, …)
• Increasingly new and innovative technologies and banking package solutions respond to specific private banking needs
• Technologies that enable the unbundling of the value chain and new distribution channels.

Changing in Regulation with high impact on the private banking activity.

• Cost of regulation and transparency is leading to higher pressure for small and medium institutions
• Tax harmonization, pension reforms and emergence of new tax related products (eg. Insurance)
• Increased pressure towards more transparency in client identification and source of money
• Evolution from off-shore to on-shore financial places.

Customer Sophistication and the coherence of Relationship Management with the business strategy are key issues.

• New type of Wealth: new money, affluent segment (< EUR 1 million)
• New attitudes (non purely asset or age related)
• Global Tax and Financial engineering requirements
• Self-directed, opinion-seeking and fully dependent clients
• Tailor made global solutions (loans, insurances, tax…)
• Active portfolio management and pro-active advisory
• Less loyal but more demanding clients
• Multiple access requirements

Top management faces key issues which impact different areas of their organization.

• How to improve the CRM processes and systems in order to attract, identify and retain the most profitable customers?
• Are there some business opportunities available for starting new activities?
• Which strategy will allow my organization to take advantage of business opportunities within the changing market?
• How to shape a new business model in order to standardize my business processes, while improving the necessary flexibility and while providing my organization with competitive advantage?
• How to handle new regulatory challenges and compliance issues?

NGR Consulting provides organizations with the right insight on market trends and on the key organizational impacts. We provide tailored solutions, in terms of business approach and capabilities, for our customers, whom we consider unique. While being able to bring together all the key elements to identify how our clients' organization is impacted by the environment, we help our clients in choosing the right direction.

Thanks to our deep understanding of the asset management industry, NGR Consulting can deliver innovative and adapted answers to Private Banking institutions and can provide assistance to their key added-value activities, particularly when related to the following domains:

Strategy & Business Architecture

Operational Excellence

ERP Implementation

Risk Enterprise Management and Compliance

Performance Management

IT Governance and Transformation

Value Based Programme Management

"Top managers need to address these issues and think about appropriate solutions to lever the key drivers of their organizations"