A selection of client work across wealth management, asset management, and life insurance, drawn from over two decades leading Bain & Company's Americas Wealth and Asset Management Practice.
The engagements described here represent a selection of work from Antonio's time as Senior Partner and leader of Bain's Americas Wealth and Asset Management Practice. They cover corporate strategy, M&A, distribution redesign and operating model transformation across the three core sectors.
Client names are withheld as standard practice. Full case study detail and client references are available to prospective clients on request, subject to confidentiality.
Developed a growth strategy for a leading U.S. retirement wealth management business, including a plan to integrate sub-scale wealth platforms and set the path for aggressive M&A-driven growth. The engagement spanned competitive positioning, platform consolidation strategy, and acquisition framing.
Developed the strategy and full business plan (approved by Board) to enter the digitally-enabled wealth management business. A "hybrid robo" model. Supported the client in acquiring a small player as a platform, which was then scaled significantly. The work covered product design, technology architecture priorities, advisor integration model, and regulatory framing.
Developed a strategy to accelerate growth at a mature broker-dealer through building out an RIA platform and restructuring advisor affiliation models. Identified the optimal affiliation structure across employee, independent, and hybrid channels. Supported the client in the acquisition of an RIA to accelerate execution of the strategy.
Robust review of the U.S. wealth and asset management market, prioritizing potential entry targets based on the client's capabilities and investment priorities. Supported the client in diligence for multiple targets and the successful acquisition of a scale wealth and asset manager, enabling meaningful entry into the U.S. market.
Supported a private asset manager in assessing the opportunity to raise capital in the retail wealth sector. Developed a plan that prioritized client segments and distribution channels, defined a go-to-market approach, target operating model, and capability enhancement requirements for accessing the wealth channel at scale.
Developed a go-to-market strategy for a traditional asset manager seeking to enter the private assets space through partnerships with alternative managers. Defined the economics, product constructs, and joint sales approach for partnerships with private managers. Established criteria to assess potential partners and recommended the prioritized shortlist.
Designed and executed a cost transformation program for a global life insurer and asset manager, targeting and achieving a 15%+ reduction in operating costs. Supported the client in executing the program through a robust change management effort, addressing organizational design, process redesign, and technology rationalisation across the combined business.
Defined the ambition and economics of enhancing General Account investment capabilities into alternative investments. Assessed "buy vs. partner" options by asset class, and defined the target operating model, including new capabilities required, and the global vs. regional structure for investment operations. Provided the strategic foundation for a major investment capability transformation.
Comprehensive strategy review for a global life insurance company spanning life insurance, wealth management, and reinsurance sectors. Developed a portfolio strategy that: (1) shifted investment to capital-light business lines; (2) prioritised the U.S. wealth business for growth investment; (3) restructured the life industry distribution model; and (4) consolidated multiple operating platforms and brands to reduce complexity and cost.
Designed and executed a distribution strategy review across tied advisor, independent broker, and direct channels. Analysed channel economics, advisor productivity, and incentive structure in depth, identifying the primary drivers of distribution underperformance. Developed a redesigned distribution model improving unit economics across all channels, with accompanying recommendations on digital distribution investment prioritisation.
The work described above is a representative selection. More detailed case studies, published Bain research and client references are available to prospective clients on request.
Antonio also brings current market perspective through active board and advisory roles at Earned Wealth, Trilogy Financial and Peloton Capital Management.
In addition to client work, Antonio has authored and co-authored research published through Bain on the following topics: