Wealth manager uses Chartwell war games to counter falling profits
In an article published by the FT today, “UBS woos clients with Churchill-era war games”, Dr. John Hulsman’s recent war games session with leading wealth management firm was praised for its ability to give organisations a more innovative way to engage with its top clients.
A war game is a moderated and time-limited simulation game in which competing players respond to simulated scenarios and attempt to achieve the best possible outcome for themselves. For corporations, a war game explores the key threats and opportunities to business strategies at any one time in more detail than any keynote speech could hope to cover.
This war-gaming session, devised by Chartwell and leading geopolitical expert John Hulsman, placed participants in two very different negative scenarios to test their assumptions about the top issues impacting on the financial and political landscape today.
Rather brilliantly, the event organisers used Churchill’s War Rooms to inspire competitors to consider the ramifications of their decisions during the game in a way they would not if held at their own premises.
War-gaming is a powerful way for organisations to test assumption and strategies before any resources are assigned to action and so they make an excellent event for companies faces tough choices or failing results. Normally, games are played internally so it’s refreshing for a company to invite their clients to take part and contribute to the conclusions drawn.
As noted within the FT article, “Greg Davies, a former head of behavioural finance at Barclays Wealth, says banks organise war games for their own staff but it is “very novel” to see clients invited to such an exercise.”
We look forward to seeing more companies embrace the power of war games to engage with their clients. If you’d like to book your own war-gaming session, please send us a quick email and we can provide more details and availability.