Wealth Management continues to grow in importance as a business line. Beyond providing essential products and services to meet the evolving needs of members, Credit Unions increasingly look to Wealth Management to make a meaningful contribution to financial results and diversify revenue sources. While many Credit Unions have made significant investments in delivering wealth management solutions, they have yet to realize the expected gains in business performance and financial returns.

The reasons lie largely in the design of the wealth management offering, which differs from the models used to deliver traditional Credit Union products and services. Many of the critical elements—such as core enablers, support structure, controls, and constraints—are delivered through external entities and partners. Moreover, the skills, attributes, and qualifications required of top-tier Advisors are not often readily available in-house and need to be developed or recruited.

The opportunity lies in designing a structure that enables seamless product and sales fulfillment across all channels, rewards top-tier Advisors for putting members first, and drives the growth of sizeable, sustainable books of business.