Specialist services provider

Specialist service providers may range from accounting or legal firms serving UHNW families or family offices to individual or group consulting firms in the areas of philanthropy, family dynamics, governance, or specialty asset or investment collections (e.g., an art valuation expert). Given the particular skills and experience required to provide a service not all UHNW clients may want or need at a particular time, many larger wealth management firms may choose not have this expertise on staff. They will seek to partner with or refer to a specialist service provider when the client need arises. The specialist provider may then be hired and paid directly by the client or by the referring wealth management firm.

In integrated family wealth management, a specialist service provider may be accessed upon referral by the integrated hub advisory firm or through a more formalized strategic partnership agreement that facilitates collaboration and integration. They are considered a spoke type of service in the hub-and-spoke model.