Challenge
Enhancing client relationships by truly addressing complex portfolios
When Silicon Valley Bank launched its wealth advisory business in 2013, it sought the most sophisticated tools to advise its clientele of technology leaders as well as private equity and venture capital partners. In addition to its wealth advisory business, SVB also privately banks approximately 1,500 of these innovative entrepreneurs and financiers. Under Jeff Schnitz, SVB’s President of Wealth Advisory, the firm focuses on building its relationships, providing an unprecedented degree of value and service in an industry that has historically prioritized the bottom line. “Some wealth advisors really, really worry about the dollars spent, and the relationship component is a by-product. We’re exactly the opposite. We love the relationships.”
To ensure that the firm could deliver on its ambitious promise, it sought a platform that could facilitate discussion of investment portfolios and balance sheets lined with public and private assets, all in one place. “Virtually all of our clients have complex liquidity needs and substantial public and private assets,” Mr. Schnitz explains. “Many analysis and reporting solutions don’t handle both public and private assets well, so you don’t get the visibility our clients need. Our clients also tend to be leaders in the innovation economy. They expect a consistent level of transparency into their portfolios, not just occasional reports.”