Wealth managers now evacuate clients from Middle East conflict zones
Wealth managers are now playing a bigger role in evacuating clients from conflict zones. Since strikes on Iran by the US and Israel, firms like Cresset and Alpen Partners have stepped in to help high-net-worth individuals leave the Middle East. Their services go far beyond financial advice, covering security, travel, and even armed escorts when needed.
Cresset, which oversees over $237 billion in assets, has organised private charters and armed escorts to move clients out of the United Arab Emirates. The firm secured seats on a private plane out of Dubai after the conflict escalated. This isn't the first time they've handled such operations—Cresset also assisted clients during the Russia-Ukraine war and the October 2023 attacks in Israel.
Alpen Partners has helped around 30 clients relocate from places like Dubai and Israel, with roughly 80% being European. Beyond evacuation, the firm has arranged Swiss residency, housing, and school placements for those seeking stability. Meanwhile, Global Guardian reported extracting over 4,200 people from the Middle East since the strikes, with about 40% of those cases involving family offices and wealth managers. These firms now offer more than just investment advice. Their services include security planning, emergency travel, and logistical support for clients facing crises. The demand for such assistance has grown as tensions in the region persist.
The conflict has pushed wealth managers to expand their role in client safety. Firms like Cresset and Alpen Partners now handle evacuations, secure housing, and provide armed protection when necessary. With ongoing instability, these services are likely to remain in high demand among high-net-worth individuals in the region.
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