Client Challenge – Fidelity Investments is one of the world’s largest mutual fund providers, serving more than 22 million individual and institutional clients with over 400 funds and more than $1.2 trillion in assets under management. Fidelity perceived an opportunity to form stronger, more complete relationships with High Net Worth (HNW) individuals and families. The challenge was to “Develop and launch a line of services for high net worth individuals who are in life transitions.”
Collaborative Breakthrough – Wealth complicates life in many ways, beyond simple money management. HNW individuals and families face a range of challenges and opportunities either created by or enabled by wealth. These are life challenges – choosing second careers when money is no longer the goal, preservation/distribution of wealth with changes in family status, and preparing the next generation to deal with wealth. Working with Creative Realities, a small group of seasoned financial professionals formed a skunk works collaborative for Fidelity. Together we created, tested and launched a new business model for an innovative HNW service business.
Reality – Oakmont Partners is an organization of LifePlanners for HNW individuals. Launched in 2006, by January 2007 it had over $100 Million of assets under management.
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