Our client is a global private wealth manager with $80B in assets under management, providing multi-asset, ETFs, mutual funds, SMAs, and private markets products.
Wealth management firms are ramping up efforts to gain from the significant transfer of wealth that is happening now, along with increased competition for savvy advisors and their books of business.
Learn how this wealth manager transformed its platform and advisor UX with Linedata’s modern, light touch portfolio tools underpinned by a powerful OMS and trading engine.
Wealth Management Platform - The Challenges
This global wealth manager was well positioned to increase its market share as it brought on board groups of advisors and their businesses. But it faced challenges with both its sprawling technology infrastructure and the need to provide a more efficient user experience for existing and potential advisors.
Like many large firms it was dealing with multiple, fragmented systems across trading, portfolio management, and compliance, known as swivel chair syndrome, and the spiraling costs associated with managing them. Efficiently onboarding, permissioning, and integrating large numbers of new advisors and their books of business stretched available resources.
Providing a capable technology backbone and communications tools for hundreds of advisors, PMs, OMS, and compliance users across dozens of locations seemed out of reach. From the CTO's perspective, accessing flexible technology solutions that didn't require wholesale ripping out of deeply embedded, complex systems was an ongoing concern.
Solutions Focused on Intuitive Workflows, Purpose-built Tools, and a Build+Buy Strategy
After extensive collaboration and due diligence, Linedata is collaborating with this global wealth manager to implement a new, efficient solution including:
Streamlined workflows - Like many large firms, it was dealing with multiple, fragmented systems across trading, portfolio management, and compliance, and the spiraling costs associated with managing them.
Fast, regular updates of new features and capabilities are pushed to advisor fingertips, rather than upgraded, through cloud-based continuous integration and deployment technology.
Wealth manager – vendor technology growth strategy that embraces a part-build/part buy approach, leveraging firm infrastructure, customizations, APIs, and Linedata system extensibility.
Building a Modern Wealth Management Ecosystem
How did Linedata’s solution improve this wealth manager’s operational and business outcomes?
Business expanded with faster onboarding capabilities and ease in managing larger numbers of portfolios; reduced manual processes freed advisors for higher value activity. Advisor efficiency and satisfaction increased with intuitive portfolio management tools, web access with personalized insights, alerting, and decision-making dashboards.
Game-changing performance metrics include the ability to:
- Search and manage 50,000 models at once
- Rebalance across thousands of accounts simultaneously with no backlog
Improved UX with fast and user- friendly tools, and the ability to engage, communicate, and report to new generation clients anywhere in real time helped to attract and maintain advisors.
Ultimately, the client retained competitive differentiation and improved the overall value of its tech platform by being able to maintain important operational ‘secret sauce’ and configurations, with a collaborative strategy that valued their existing technology ecosystem.
Linedata front office software solutions for wealth managers
Linedata simplifies how wealth managers and advisors manage portfolios, onboard new business, and interact with clients with remote access, cloud based, UX-rich tools supported by a highly performant engine.
Learn more here.
About Linedata
With 25 years of experience, Linedata provides global humanized technology solutions and services for the asset management and credit industries, helping its clients evolve and operate at the highest levels.