HomeResearch & Knowledgeback to Homeback to Research & KnowledgeWLIM: Scaling up a wealth management boutiqueback to

Case Study

WLIM: Scaling up a wealth management boutique

By Benoit F. Leleux, Federica Fasoli, Kathrin Lutz and Cristian Neamtu

18 pages

December 2020

Reference: IMD-7-2209

Jonathan Lachowitz founded a start-up venture in the Financial Planning industry called White Lighthouse Investment Management in 2006. He targeted a niche segment (US citizens living abroad) that had a critical problem that was not addressed by existing companies (e.g. US Tax Reporting). The organization has grown slowly and consistently. In 2015 the current form of organization is stretched to a maximum. There are several decisions Jonathan needs to make, he needs to decide whether or not to hire new employees or partners and he needs to come up with a strategy on what type of clients he should accept.

Learning Objective

How targeting a niche segment can be the key to success (need-based market segmentation).
How to create a knowledge-based service company (using Business Model Canvas).
Understanding the competition and fee models in the financial planning industry.
How the entrepreneur’s unique choices link to the financials by analyzing the DCF projected in 5 years, NPV, IRR and RI.
How this unique mix of consistent choices enabled initial success and sustainable growth.

Keywords

Strategy, Entrepreneurship, Start-up, Financial Planning, Services, Knowledge Economy, Business Growth, Customer Segmentation, Financial Analysis

Settings

White Lighthouse Investment Management, Finance and Insurance, Financial Services
2007 – 2018

Available Languages

English

Related material

Teaching note, Video

IMD case studies are distributed through case clearing houses. In order to browse the collection and purchase copies please visit the links below.

The Case Centre

Cranfield University

Wharley End Beds MK43 0JR, UK
Tel +44 (0)1234 750903
Email [email protected]

Harvard Business School Publishing

60 Harvard Way, Boston MA 02163, USA
Tel (800) 545-7685 Tel (617)-783-7600
Fax (617) 783-7666
Email [email protected]

Asia Pacific Case Center

NUCB Business School

1-3-1 Nishiki Naka
Nagoya Aichi, Japan 460-0003
Tel +81 52 20 38 111
Email [email protected]

IMD retains all proprietary interests in its case studies and notes. Without prior written permission, IMD cases and notes may not be reproduced, used, translated, included in books or other publications, distributed in any form or by any means, stored in a database or in other retrieval systems. For additional copyright information related to case studies, please contact Case Services.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Keep reading

Article

Optimizing omnichannel assortments and inventory provisions under the multichannel attraction model

Assortment optimization presents a complex challenge for retailers, as it depends on numerous decision factors. Changes in assortment can result in demand redistribution with multi-layered consequences. This complexity is even more pronounced for ...

General Management

By Andrey Vasilyev, Sebastian Maier and Ralf W. Seifert

in European Journal of Operational Research

August 2025, vol. 324, no. 3, pp. 799-813, https://doi.org/10.1016/j.ejor.2025.01.035

Article

The anatomy of family business conflict

Understanding conflict in family businesses is a complex but essential study area for practitioners and academics. To enhance theoretical precision and provide practical insights, this article presents a comprehensive framework of family business ...

Customer Centricity Family Business

By Marco Mismetti, Barbara Del Bosco, Cristina Bettinelli and Alfredo De Massis

in Journal of Family Business Strategy

June 2025, vol. 16, no. 2, 100660, https://doi.org/10.1016/j.jfbs.2025.100660

Article

Boundary conditions for organizations in the Anthropocene: A review of the planetary boundaries framework 10 years on

We systematically review business research concerning the planetary boundaries framework: A natural science framework that identifies nine Earth system boundaries that govern the safe operating space for humanity. Ten years after the introduction ...

Sustainability

By Amanda Williams, Paolo Perego and Gail Whiteman

in Journal of Management Studies

June 2025, vol. 62, no.4, pp. 1811-1846, https://doi.org/10.1111/joms.13150

Article

Navigating disruption: The CFO role in a volatile world

Stephan Jansma, CFO at Trafigura, shares how today’s finance leaders must navigate global disruptions, manage liquidity in high-volatility markets, and engage with policymakers to keep supply chains moving.

in I by IMD

Article

Breaking up to move forward: Why CFOs are at the heart of the de-conglomeration trend

In an age that prizes agility, breaking up is a strategy rather than a surrender, argues IMD’s Salvatore Cantale, as CFOs step forward as architects of value in the de-conglomeration era.

in I by IMD

Article

Out of your comfort zone: What it takes for traditional CFOs to become CEOs

IMD’s Ric Roi explores what it takes for traditional CFOs to step into the CEO role: expanding their leadership range, building emotional connection, and navigating complexity with confidence.

in I by IMD

Article

Training the retailers of tomorrow

Natalia Wallenberg of Ahold Delhaize describes how one of the largest retailers in Europe is tackling the upskilling dilemma.

in I by IMD

Article

Executive recovery: The backbone of thriving organizations

With executives experiencing unprecedented levels of leadership burnout, here are three ways for organizations to help employees prioritize their recovery

in I by IMD

Article

Riding the duck curve: A strategic guide for companies in the evolving energy landscape

With solar power flooding grids, the duck curve creates both challenges and opportunities for businesses. Learn how smart companies can harness this shift to cut costs and boost efficiency.

By Robert Earle and Karl Schmedders

in I by IMD

Article

Riding the duck curve: A strategic guide for companies in the evolving energy landscape

Solar power floods grids with cheap energy, creating both challenges and opportunities. Learn how smart companies can capitalize on the duck curve.

Business Transformation Innovation Sustainability Technology Management

By Robert Earle and Karl Schmedders

in I by IMD

Optimizing omnichannel assortments and inventory provisions under the multichannel attraction model

By Andrey Vasilyev Sebastian Maier and Ralf W. Seifert
in European Journal of Operational Research August 2025, vol. 324, no. 3, pp. 799-813, https://doi.org/10.1016/j.ejor.2025.01.035

Summary

Contact

Research Information & Knowledge Hub for additional information on IMD publications