Challenge:
- The client is an established provider of wealth management and asset management services in the HNI segment
- To help the client realise economies of scope and scope and scale in the retail non-bank financial services segment by setting up a market expansion platform to serve smaller clients
Approach:
- Articulated and implemented the Group’s retail business strategy. This included:
- selecting the products for the retail platform (the investment centres), determining the pricing, providing inputs to the financial model as well as overseeing the brand strategy execution; and,
- modifying strategy/marketing approach in line with investment centre location
Value Provided by Quramo Advisory:
- created a business model for investment centres in key cities across the country
- developed an integrated business model, covering pensions, mutual funds and stockbroking
- Created an organisational structure that would take advantage of the largely untapped retail market where opportunities abound in the informal market
- Positioned the group to cross-sell retail products and services
- Articulated the implementation plan for the retail platform
- Developed the brand strategy
Client Benefits:
- Prior to the existence of the retail platform, the client was over exposed to business concentration risk of serving large clients. However, following the implementation of the retail platform the brand was more visible and positioned to penetrate the underserved informal and retail sectors.