Wealth Management is a business line that continues to grow in importance. In addition to providing necessary product and service solutions to meet the changing and expanding needs of members, Credit Unions are looking for Wealth Management to make a meaningful contribution to financial results (and supplement traditional sources of revenue). Most Credit Unions have invested materially in the delivery of wealth management products and services, but many have yet to experience the increase in business performance and financial lift they expected.

The reasons for this lie predominantly in the design of the wealth management offering, which is very different from that required for the delivery of traditional Credit Union products and services. Many of the contributing elements, including core enablers, support infrastructure, controls, and constraints, are provided through external entities and partners. In addition, the skill sets, attributes, and qualifications required for top tier Advisors are generally not available in house and need to be recruited for. Designing an architecture that effectively integrates all of these factors into an offering that promotes the growth of sizeable, sustainable books of business, attracts high performing, quality talent, and facilitates seamless sales fulfillment across all business channels is the challenge….and the opportunity. The “Architecture” section of this site provides a foundational look at the various elements and interdependencies that contribute to a successful wealth management offering.