Phoenix Partners With US Giant Bernstein to Target Israeli Millionaires

Phoenix, an Israeli investment house, has entered a strategic partnership with Bernstein Private Wealth Management, the private wealth management arm of American investment giant AllianceBernstein. The collaboration aims to offer global investment and wealth management services to affluent families and high-net-worth individuals in Israel. This move targets a growing market, as a 2026 UBS Global Wealth Report indicated approximately 195,000 dollar millionaires resided in Israel at the end of 2025. During that year alone, 8,803 Israelis joined this group, marking a 4.7% increase. The average wealth per adult in Israel reached about $312,000, ranking the country 18th globally in this metric, underscoring the increasing competition among financial institutions for wealthy clients.

Under the agreement, eligible Phoenix W clients will gain access to Bernstein's global investment platform, complementing Phoenix's existing services. This will include exposure to global stocks, bonds, and ETFs, as well as alternative investments such as hedge funds, private equity, and real estate. Additionally, comprehensive financial planning services will be offered, covering retirement planning, trusts, intergenerational wealth transfer, and philanthropy.

The partnership with Bernstein significantly enhances Phoenix's standing in the wealth management sector. AllianceBernstein manages over $905 billion in assets as of June 2026, while Phoenix Investment House manages approximately 130 billion shekels as of August 2026.

"We are observing a growing demand among our clients for advice that connects their financial activities in Israel with investment opportunities in global markets," stated Yonatan Etkin, Chairman of Phoenix W. He added that for Phoenix, this initiative targets a rapidly expanding demographic. Globally, the number of dollar millionaires increased by nearly one million in 2025, with Israel experiencing a 4.7% growth rate. This represents a potential client base of nearly 200,000 individuals with complex financial needs, ranging from international investment management to planning for the transfer of wealth to the next generation.