AlTi Global : Q1 26 AlTi Tiedemann Earnings Deck Draft 05.11.26 FINAL

Published: 2026-05-11 16:58:33 ET ALTI

Published on 05/11/2026 at 04:58 pm EDT

AlTi Global

First Quarter 2026 Earnings | May 11, 2026

Years operating history

focused on UHNW

96%

Client retention rate since 2021

$90B and $49B

AUA and AUM

74%

Recurring revenues for

Q1 2026

69% vs. 31%

U.S. vs. Non-U.S.

Wealth Management AUM

19 7 $5B 10+

Offices across the globe in major financial centers

Acquisitions and integrations completed globally since 2023

Committed to impact strategies

Years of average tenure for Wealth Management advisors1

Global strategic partnerships provide growth capital, access and relationships

AlTi Global

1) Excludes Kontora advisors

Note: Information as of March 31, 2026, unless otherwise noted

Our vision and why it matters

O U R P U R P O S E

Make Wealth Worth More.

By understanding the people, not just the portfolio, and thinking in decades, not quarters, we don't simply manage wealth.

We make wealth personal, powerful and permanent.

O U R B E L I E F

Investment excellence is non-negotiable.

But when wealth is managed with the clarity of a client's purpose, it delivers better outcomes -Financially, emotionally, generationally.

W H Y T H I S M A T T E R S

Where investment excellence meets client purpose is a commercially rooted and market driven positioning that delivers:

Relationships that transcend generations

High levels of wallet share

Strong client retention

AlTi Global 4

Why we created AlTi

Historically the only providers equipped to support the ultra-high-net-worth segment of the wealth management market - with significant drawbacks

Over 25 years ago, we envisioned a new kind of UHNW platform. A platform with the resources and scale of a global private bank, but with the personal touch, independence, and flexibility clients sorely felt were missing.

Global platform with extensive resources

Limited and inflexible services and reporting structure

Integrated, multidisciplinary

service offerings

High fees, less pricing transparency

Culture of compliance

Standardized solutions, less customization

Advisor turnover; risk of clients leaving with advisors

Conflicts of interest

/ misaligned incentives

Private banks are structurally unable to offer independent advice, bespoke solutions, or integrated cross-border capabilities for UHNW clients.

AlTi is purpose-built to serve the unique, evolving, and global needs of the UHNW sector.

AlTi Global 5

A differentiated business purpose-built over 25+ years

Foundation of our Platform

Comprehensive

capabilities

Full suite of offerings to serve the comprehensive and evolving needs of our clients, including investment advisory, family

office services, estate & wealth planning, trust & fiduciary, governance & education, and impact investing

Track-record and relationships

25+ year track record with significant scale built over our history; relationships with 800+ UHNW families, endowments and foundations

Global

We have built a truly international business with operations in each key center of wealth globally, reflecting the global nature of our client base; development of our global footprint is unique and difficult to achieve

Scalable Customization

Investment platform

Leading investment advisory practice driven by highly experienced and credentialed investment managers with ability to customize portfolios to meet unique client needs; differentiated expertise in alternatives and access to premier alternative asset managers

Regulatory / compliance

Our business is built upon a truly robust compliance, reporting, and controls framework across multiple jurisdictions, informed by the global nature of our operations and our experience adhering to public company standards

Corporate infrastructure

We have invested significant resources and time into building an industry-leading, centralized operational infrastructure and technology suite, enabling us to now scale rapidly; centralized operations for our international business in Lisbon built upon the success of our U.S. model

M&A engine

Dedicated M&A team, process and strategy for inorganic growth that prudently targets accretive acquisitions that add specific capabilities or expand our geographic reach; successfully completed and integrated 10+ acquisitions over the last decade

AlTi Global 6

Key investment highlights

Differentiated focus on the UHNW segment - the most attractive and highest growth segment within wealth management

Trusted and sought after, delivering exceptional wealth management solutions to the UHNW segment for 25+ years

Unique global footprint with international presence and ability to serve cross-border families and institutions

Holistic, integrated, investment-led capabilities for UHNW and institutional clients

Strong pipeline of M&A opportunities and successful track record of integration

Robust financial profile with highly recurring revenue and ongoing initiatives for margin expansion

Leadership team with deep industry expertise and decades of experience

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AlTi serves the most attractive segment in wealth management

$264T(2)(4)

Global Financial Wealth

$102T(1)(2)(3) HNW and UHNW Investible Financial Wealth

$90B(5) 0.09%

Largest wealth transfer in history - ~$124T in the U.S. alone through 2048 - with over half coming from HNW/UHNW(6)

Massive and growing client base, with 426k+ UHNW

individuals globally with net worth exceeding $30M(7)

HNW / UHNW opportunity is estimated at $102T

and is expected to grow at a

Increasing need for external advisors, with ~80% of

family offices working with one(8)

~7% CAGR to 2028(1)(2)(3)

Increasing need for services beyond core investment management as a holistic wealth advisor

Illustrative revenue TAM opportunity

$102T

HNW and UHNW investible financial wealth (1) (2) (3)

(x) 40 bps

Illustrative blended average fee rate

= $41B

Revenue opportunity

Growing demand for impact and purpose as UHNW

clients look to leave a legacy

AlTi Global

Source: Morgan Stanley and Oliver Wyman, "Longevity Unlocked: Retiring in the Age of Aging": investable personal financial wealth includes investable assets (deposits, equities, bonds, mutual funds and alternatives), excluding assets held in insurance policies, pensions and direct real estate or any other real assets

TAM assets for global financial wealth and for high-net-worth (HNW) and ultra-high-net-worth (UHNW) investible financial wealth reflect 2023 figures

Ultra-high-net-worth (UHNW) refers to individuals with a net worth of at least $30 million

Source: Allianz Global Wealth Map; figures in EUR converted to USD using exchange rate of 1.105 as of 12/31/2023; financial wealth includes financial assets for private households

Represents AlTi's Wealth Management AUA as of March 31, 2026

Source: Cerulli U.S. High-Net-Worth and Ultra-High-Net-Worth Markets 2024

Source: Altrata World Ultra Wealth Report 2024

Source: JPM 2024 Global Family Office report

AlTi has expertise in alternatives and impact, key areas of interest for UHNW

Alternative AUM/AUA Growth and Forecast (2017-2030P) Relevance of ESG Factors

$Trillions

$29

$30

$17

32% 68%

of HNWIs request ESG scores for their sustainable product investments

68%

2017 2023 2029P 2030P

Increasing demand for alternatives, an estimated $30 trillion market

by the end of 2030, aligns with our expertise

Clients and investors understand and want to invest responsibly and with intent, as they think about legacy

71% of relationship managers say UHNW investors favor alts more than clients from other wealth bands(2)

45% of UHNW investors view ESG as essential in their wealth management decisions(3)

AlTi Global

Source: Preqin, Global alternatives markets on course to exceed $30tn by 2030

Source: Capgemini research institute, 2024 World Wealth Report

Source: Capgemini research institute, s can reignite investors' waning ESG enthusiasm

The UHNW segment is fundamentally different than HNW

Ultra-High-Net-Worth High-Net-Worth

Most PE-backed RIAs

Target Client

~$100M-1B+ in assets(1)

Generally $1-10M in assets

Client Type

Billionaires, multi-generational families, family offices, entrepreneurs and founders, foundations and endowments

Highly educated professionals, senior executives, retirees

Client Relationship

With firm; often higher share of wallet concentrated at firm

With advisors; higher risk of wallet dispersion

Client Needs

Complex estate planning, intergenerational wealth transfer, philanthropy, succession

Portfolio management, retirement planning, tax planning

Investment Style

Long-term time horizon, demand access to alternatives, lower correlation to market

More liquid-strategy oriented

Advisor Coverage Model

Dedicated cross-border, multi-disciplinary team

Single advisor or small team

Fee Structure

% of AUM ratcheting down as assets get larger; select additional

fees for value added services

% of AUM flat fee, limited incremental revenue from value-added

services

Geographic Capabilities

Global, complex on and offshore investment and planning capabilities due to global nature of client base

Domestic / no need for cross-border expertise

The UHNW segment is more attractive and requires specialized skills and capabilities to meet the complex needs of UHNW famili es and institutions

AlTi Global

1) Average assets at AlTi per client is $55M+ as of March 31, 2026 10

Institutional client support

UHNW families and individuals

Single family office

Foundations & endowments

Institutional investors

830+

UHNW/HNW individuals and families and other clients

~$60M

Average AUM / client

A clientele with distinct, bespoke needs

Minimum of ~$25M of investable assets

Demand bespoke investment management, spanning alternatives, impact investing capabilities, and emerging opportunities

Navigate complex cross-border financial and regulatory structures

Safeguard wealth through holistic risk oversight and

liability mitigation

Build enduring family wealth through thoughtful succession planning

Value exceptional, discreet, and proactive service at every touchpoint

We have a client base with diverse sources of wealth

Profile of our client base

96%

Client retention rate since 2021

~10 year

Average client tenure

AlTi Global 11

We deliver what matters most: simplicity & time

Client Needs

UHNW clients face growing complexity across

assets, family structures, and global exposure

Our Value Proposition

We simplify complexity through integrated offerings that bring together investment,

planning, governance, impact investing, and family office services

Clients seek fewer advisor relationships

and more seamless execution

We serve as a single, trusted partner - reducing advisor sprawl and giving clients

back valuable time

Sophisticated needs require tailored solutions in

investing, planning and beyond

We bring together specialists across disciplines - from alternative investment

experts to family offices, tax planning experts, and philanthropic advisors

International families and institutions are demanding

the same breadth of service they see in the U.S.

Our international wealth management platform adopts this model globally - adapting

seamlessly to local needs while offering a consistent, high-touch experience

✓

Investment Advisory

(Traditional,

✓

Estate & Wealth

Planning

Trust & Fiduciary

ternatives & Impac

Philanthropy &

Purposeful Giving

Governance

& Education

Family Office

Services

AlTi Global 12

AlTi is regarded as a premier independent financial provider globally for UHNW and institutions

Individual awards and recognitions

Investment Week

Investment Woman of the Year (2025) Investment Woman of the Year (2024) Nancy Curtin

WealthBriefingAsia EAM Women in Wealth Management (2025)

Anthonia Hui

Wealth Solutions Report

Top 10 WM CMOs (2024)

Claire Verdirame

Citywire Portugal

40 Under 40 (2024)

Joao Pisco

Citywire Italia

Top 50 (2024)

Giorgia Sanchini

Washingtonian Magazine

Washington, DC's Best Financial Advisers (2025) (2026)

Steve Aucamp (2025) (2026)

Brad Lackey (2026)

Spear's Wealth Management Indices

Best s for Ultra-High-Net-Worth Clients (2025)

Nancy Curtin, Charlie Hamilton, Tomas Gorgulho, Jakob Meidal

Firm awards won

Barron's Advisor's Top 100 RIA Firms for 2025

Ranked Top 5 for firms with the largest median client size (2025)

Wealth Management Industry Awards

Best Family Office Thought Leadership (2025)

With Intelligence Private Asset Management Awards Best Multi-Family Office Over $25 Billion (2024) (2025) Best Outsourced CIO (2025) (2026)

With Intelligence HFM European Performance Awards

Best Event-driven Merger Arbitrage Strategy (2024)

Family Wealth Report Awards

Best OCIO (2025)

Best Multi-Family Office $15 Billion AuM/AuA+ (2024)

Best Portfolio Management (Miami) (2024)

MoneyAge Wealth and Asset Management Awards

Family Office of the Year (2024)

WealthBriefingAsia EAM Awards

Best Philanthropy Offering (2024)

D Magazine

Top (2024) (2025)

AlTi Global

Note: Awards as of March 1st, 2026 13

Our business has evolved over time to focus on our core UHNW and institutional investment management offerings

WEALTH MANAGEMENT ACQUISITIONS

2017:

Threshold

Jan-22:

2023:

May-23:

Apr-24:

East End

May-24:

Jul-24:

Apr-25:

Group

Holbein

Albacore

AI Wealth

Advisors

Pointwise

Envoi

Kontora

(~$3B AUM)

(~$1B AUM)

(~$0.9B AUM)(1)

(~$1B AUM)

(~$6B AUM)

(~$0.7B AUM)(2)

(~$3B AUM)

(~$15B AUM)

Jun-23:

Deconsolidation of AHRA / Home REIT

Feb-24:

Broker-dealer wind-down

Mar-24:

Disposal of LRA

Mar-24:

Disposal of LXi REIT

May -24:

Disposal of FOS

Q3 2025:

UK real estate wind-down

ASSET MANAGEMENT DIVESTITURES / WIND-DOWNS

AlTi Global

Acquired 30% stake in 2019 and remaining stake in 2023

Acquired 50% stake in 2020 and remaining stake in 2024

Unique global footprint in which each location is intentional

Notable Capabilities by Location

Hong Kong: Significant hub for wealth in East Asia, particularly from Chinese mainland

Singapore: Significant center for Asian family office wealth

Milan / Lugano: Significant center of European industrial wealth

New York: Global Headquarters; major U.S center of wealth

Palm Beach / Dallas: Established wealth;

regional hubs

San Francisco / Seattle: Center of wealth from tech sector; significant impact-related activities

Miami: Gateway to the Latin America market

London: Global cross-border hub and significant

center of wealth for EMEA

Lisbon: Centralized operations for international wealth management business

Hamburg: Foothold into the difficult-to-penetrate German market

Zurich: European wealth hub with access to Middle East

Global Footprint

9 Countries 19 Cities

Hong Kong

Hamburg

London

Paris

Minneapolis

Seattle Portland

San Francisco

New York

Wilmington Dallas Washington, D.C.

Palm Beach

Zurich

Lugano

Milan

Singapore

Miami

Lisbon

Our global footprint reflects the global nature of our client base

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Track record of M&A and successful integration

Acquisition

Capabilities

Year acquired

AUM at acquisition ($B)

Acquisition commentary / additional capabilities for AlTi

U.S.

Acquisitions

OCIO

2024

~$6

Provides credible OCIO capability for large families and foundations. New business sourcing has been very promising over a short period

Wealth & capital

2024

~$3

Provides presence to Midwest region with holistic team. Full integration with 100% client and employee retention

Impact

2017

~$3

Provides deep impact investing capabilities and maintains an experienced Family Office Services team. Fully integrated in 2017-2018 with steady business development wins, particularly with impact investing mandates where we have >$5B

International Acquisitions

Local market expertise

2025

~$15

Anchor for German onshore UHNW strategy

Deep roots in the Nordics

2024(1)

~$0.7

Maintained solid financial performance post-integration, delivering one of the highest RoAs within IWM

Philanthropic hub

2023

~$1

Fully embedded in the IWM model with a discretionary-led book (~94%)

Expertise in European capital structures

2023(2)

~$0.9

Remains strategically important for its Swiss and Italian cross-border capabilities and strong client retention

Family office

2022

~$1

Remains a high-quality, advisory-led franchise within the London hub, managing ~$750M+ in billable assets

AlTi Global

Acquired 50% stake in 2020 and remaining stake in 2024

Acquired 30% stake in 2019 and remaining stake in 2023

Strategic investments provide capital, access and relationships

Fund M&A pipeline for compelling inorganic growth opportunities

Accelerate international growth and expand global footprint

Global financial services provider across the insurance and asset management sectors, providing financial security and certainty to its customers for 130+ years.

Execute upon organic growth and efficiency initiatives

Expand product offering and access for clients

CWC provides flexible, long-term capital solutions and strategic advisory support to scaled wealth management platforms, leveraging its deep industry experience and relationships.

AlTi Global 17

How we generate revenue

AlTi's topline performance is driven by recurring fee streams

Investment management, advisory, trustee, and

administration fees

Management fees in Distributions from investments (3)

Calculated primarily as a percentage of AUM/AUA

Incentive fees in Distributions from investments (1)

Incentive / performance fees (2)

Other fees / income

Stable fee rates, long-duration clients and largely fee-on-assets revenue base underpin the recurring revenue model

AlTi Global

Includes incentive fees distributed from AlTi's economic interest in the External Strategic Managers; primarily recognized Q1 of the following year

Includes primarily incentive fees from funds managed by AlTi's Arbitrage platform; primarily recognized in Q4 of a given year

Includes management fees distributed from AlTi's economic interest in the External Strategic Managers

Expected financial drivers

Well-defined path with a clear trajectory for long term growth

Growth focused on stable, recurring revenue wealth management

business

01.

Topline Growth

02.

Margin Expansion

03.

Balance Sheet Capacity

Topline growth fueled by organic growth initiatives including, increased collaboration across offices, tailored approach to key segments, refined pricing models and private markets JV

Strong pipeline of strategic and accretive M&A opportunities globally Initiatives underway to reduce the cost basis using a zero-based

budgeting (ZBB) approach

In process of transforming the technology platform to enhance efficiency, productivity and scalability

Focused on achieving economies of scale by leveraging global

platform, including Lisbon "Center of Excellence"

Financial flexibility to capitalize on future growth opportunities

AlTi Global 19

First Quarter Highlights

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Disclaimer

AlTi Global Inc. published this content on May 11, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 11, 2026 at 20:50 UTC.