The Private Wealth Partners enable leading private wealth advisors to operate independent businesses—a superior option for select teams.
We provide a platform to deliver technology, investment solutions, private wealth management expertise and operational support.
We align interests for the benefit of private wealth clients. The result is to create enterprise value. Additionally, we are minority investors in independent private wealth managers. We want to work with private wealth advisors who like being majority owners of their own company. An independent private wealth management team is able to create the client experience they want. They may customize investment solutions, private placement transactions, reporting, pricing, financial planning and more. They establish the culture they want. And, they develop flexible approaches to their own retirement or monetization while creating substantial value.
We have found that private wealth management teams often want a partner to help think about what operating a wealth management company entails. So we offer a formal process.
View Evaluation Process >
As part of The Process a private wealth team will decide if it makes sense for them to operate as an independent business. We approach the question objectively because we are contemplating making a minority investment in the potential new independent firm. We mutually assess if the new company is likely to be a growth business. Our experience and expertise support evaluating whether the business is compelling and investable.
Aligning Interests & Building Growth
We do not assume a team should be independent. After preliminary conversations, we mutually decide with each private wealth team if we should jointly spend time evaluating their possibilities. The Process requires the resources of both the private wealth management team and PWP. We cover topics that range from the team’s vision to financial analysis. We believe that private wealth management teams who should form their own company will do so in large part to achieve the client experience they want to deliver. This is the primary means of creating enterprise value. Then, together, we engage in the formal process to determine aligned interests. At the end of that process, the team will discover if it is viable for them to consider operating as an independent private wealth business. And, PWP will conclude if it makes sense for an affiliated fund to take a stake in the team. Our deep industry insight and a focused investment approach provide a strong foundation to evaluate aligned interests and value creation. At the end of the evaluation process we will have a point of view. But a team will have their own perspective, and they will probably be right. If a team does not naturally conclude that they want to form their own company they should not.
Singularly Dedicated to the Private Wealth Client
What is unique to private wealth is at the heart of it—the complexity, the life concerns and the family dynamics. Operating by exception is not a way to do business. By bringing the right people together for the right reasons, PWP can focus on working with private wealth management teams to apply an operating approach in business strategy execution – inclusive of compliance – unique to the private wealth client experience.
Aligned with PWP, a private wealth company owner will have access to highly supportive and collaborative private wealth strategies and operations: Investment & Intellectual Capital, Knowledge Management & Transition Strategy, Curated Platform, Technology Integration & Front-Mid-Back Office Solutions. We use a carefully selected set of 20+ vendors to provide an integrated middle and back office. This platform is central to our ability to help a private wealth firm create value. We want the technology and the wealth management capabilities to work for our clients and their clients.
John A. Straus | Managing Partner
Phil Sieg | Partner
Peter E. Ruhlin | Managing Partner
Private Wealth Management Teams will find that we offer:
deep expertise in the private wealth industry
broad executive experience
ability to help think through & evaluate their possibilities
a network of industry experts and operating partners
dedication to value creation
a collaborative and operational approach
Let us know if you would like to talk.
The decision dynamics have changed. This is now possible because of technology advances, product solutions availability and client affinity for private wealth advisor-operated firms. The Private Wealth Partners expertise in private wealth management helps private wealth advisors get to the right answer for their team.
The PWP Evaluation Process
Many private wealth management teams want a partner to help think about what operating a wealth management company of their own entails. So we offer the PWP Evaluation Process. The Process is driven by the team’s aspiration to create a superior client experience – which is how enterprise value can be created. As a natural outcome of The Process, the team will discover if it is viable and a fit for them to operate as a private wealth business. PWP will conclude if it makes sense to take a minority stake in the team.
Through the PWP Evaluation Process, we have found that teams feel confident they are getting a realistic look and clear sense of:
how the client experience they define would be delivered and clear articulation of the culture that underpins it
how the team’s investment offering could be enhanced
the kind of succession the team wants to enable over time
what success looks like for their clients and for enterprise value
how clients may perceive a change
any gaps in the team
the nature and volume of work involved in a transition
How we engage in the process together to determine aligned interests
We start with a preliminary conversation with senior partner(s). We do not assume a team should be independent. The team will ultimately decide if it makes sense for them and we help approach the question objectively and pragmatically. Once we mutually decide to spend time evaluating possibilities, a mutual NDA protecting both parties is signed. Then The Process starts. The private wealth management team will devote time/info and participate, while we manage The Process. Topics covered range from the team’s strategic vision to financial modeling of post-tax valuation/earnings comparisons.
The Process takes the private wealth management team itself approximately 20 hours over 1-2 months elapsed time and varies by team.
At a glance—The PWP Evaluation Process
Defining Needs, Assessing Capabilities & Modeling Outcomes
Segments of the PWP Evaluation Process
The seven business segments covered in The Process provide a sense of whether a team operating as an independent company is compelling and likely to be a growth business.
What success looks like for clients and for enterprise value. How the team will achieve the client experience they want to deliver as the primary means of creating enterprise value. Reviewing business analytics provided by the team to help evaluate how the team’s business would translate to an independent company. Clearly articulate the culture the team wants underpinning their company.
- Current Business Profile
- Target Market
- Vision & Value Proposition
- Services Offering
- Clients & New Client Pipeline
- Growth & Acquisition Strategy
- Roles & Responsibilities
- Succession Planning
Investments & Solutions
A clear sense of how the investment offering can be enhanced. Any change to capabilities. How much ability and flexibility is possible to meet the most individualized client needs. Degree of creative problem solving possible around family dynamics and intergenerational solutions.
- Asset Management
- Private Investments
- Research Market/Managers
Client Experience & Reporting
The kind of client experience it is possible to create. How owning the company could change the dynamic and ultimately the relationship with private wealth clients. Aligning everything to deliver what the private wealth client uniquely needs—addressing their distinctive goals, complexity, life concerns and family dynamics.
- Client Reporting
- Financial Planning
- Client Portals
- Family Governance Advice, Philanthropy & Other Soft Services
How a platform designed for private wealth can allow a team to adapt even more to the client. What is now available to service the business at high quality relative to cost. Effect of dedicated private wealth platform on exception management and what is delivered to clients. How integration of leading providers can be put to work for a team’s own business.
- Data Management
- Integration/Single Sign-On
- Advisor Portal
- Cyber Security
- Vendor Due Diligence
Financials & Economics
Discover what a team’s practice may be worth as a company and the economic impact of owning an independent, private wealth management firm. More detail on specific financial statement components. Post-tax valuation and earnings comparisons.
- Development of Pro-Forma Financials
- Financial Metrics, Cash Flows & Enterprise Value
- Capital Planning
- Equity/Ownership Structure
How policies and procedures align for the private wealth client base—including hybrid practices that provide both advisory and transaction services. Compliance offerings available to support an independent company including providing a Chief Compliance Officer. Cyber risk awareness and support.
- Regulatroy Reporting including ADV
- Policies & Procedures
- CCO Role & Responsibilities
- Business Insurance
Address the operational challenges, value and nature of work involved in transition. Includes office space, branding, tech implementation and support available to transitioning clients.
- Pre & Post Transition Planning
- Roles & Responsibilities in Transition
- Coordination of PWP, Team Members & Third Parties