Bernstein Expands UHNW Platform and Announces Three Executive Hires

Ultra-high-net-worth clients account for more than half of the assets managed by Bernstein.


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Bernstein Private Wealth Management, a unit of AllianceBernstein, the $725 billion investment manager, announced the expansion of its Ultra-High-Net-Worth Platform.

At the moment, Bernstein’s UHNW Platform serves more than 1,290 individuals and families representing about $37.9 billion in total assets.

The expansion brings disparate parts of the UNHW business all under one umbrella, from its advisory business to the partnership teams.

“Over time, the ultra-high-net-worth space has become an increasingly large part of our business, representing more than half of the assets that we manage for individuals and families,” said Rick Meyers, head of client and advisory at Bernstein. “This is really meant to serve as a center of excellence that focuses on the unique challenges that come with success.”

As part of the expansion, Bernstein has appointed three new senior executives: Amanda Bohr, director of strategic partnerships; Jeremy Lam, director of credit; and Emily Neubert, national director of UHNW Services.

The company has also created a dedicated UHNW service team, run by Neubert. The goal of the team is to provide a concierge level of service, said Meyers.

The company hopes to eventually get its client-to-professional ratio down to the low double digits, said Meyers. That’s far below the industry average. According to a recent advisor headcount report by Cerulli Associates, a wealth and asset management research and consulting firm, a single advisor, on average, serves about 147 clients.

Bohr and Neubert are internal hires, while Lam, a private lending banking expert, joined Bernstein in September from First Republic Bank.

Moving forward, Bohr will be responsible for spearheading the platform’s partnerships strategy, while Lam will work with Bernstein’s credit partners to help clients with liquidity needs. In addition to heading the new service team, Neubert will be responsible for driving long-term growth of the platform, and she will also continue to oversee family governance at Bernstein.

The new appointments are part of the company’s bid to increase its service offerings to its UHNW clientele. Through the platform, the company will eventually offer services like art advisory, health care and lifestyle tools.

This announcement was a long time coming. Meyers said the firm started working on consolidating and expanding its UHNW business in 2020.

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