Opinion: Why financial services consultancies keep losing mandates to specialist boutiques
A recurring pattern across wealth and specialist insurance mandates: Tier 1 firms bid hard, lose narrowly, and hear the same feedback about depth versus breadth.
There's a loss pattern that comes up repeatedly in financial services consulting: a Tier 1 firm bids for a wealth or specialist insurance mandate with strong methodology, team credentials and commercial terms — and still loses to a specialist boutique.
The feedback, the piece argues, is consistent: clients are choosing depth in a narrow domain over breadth across many, and reading 'partner-led' against named individuals rather than firm capability.
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