Finaplex launches hosted portfolio management service

Source: Finaplex

Finaplex, Inc., a leading provider of integrated wealth management software applications, today announced Finaplex OnDemand, the industry's first Software as a Service application for wealth relationship management.

Finaplex OnDemand is a hosted, web-based, client relationship and portfolio management application for financial advisors. The service is based on Finaplex's enterprise software offering, called Finaplex Wealth, which has been successfully deployed in the wealth management industry for the past three years. Finaplex OnDemand integrates tax lot accounting, AIMR-consistent performance measurement, CRM, proposal generation and portfolio management into a single wealth management platform. Finaplex also offers optional reconciliation services, providing a near turn-key application environment for users.

This offering was designed to be delivered as a service that can manage the full range of needs of the wealth management industry, from the desk of the independent registered investment advisor, to the largest Wall Street firms managing millions of accounts. Finaplex OnDemand is designed to scale as a firm's wealth management business grows. "Finaplex will now offer the benefits of our integrated WRM desktop to a wider range of firms, including smaller firms that may not want to customize our enterprise application software and host it themselves," said President and CEO Pete Tierney. "Finaplex OnDemand allows firms to concentrate on what they do best - provide financial advice and portfolio management - without having to purchase, integrate, and manage several different software packages."

Finaplex OnDemand has been shipped to beta installations, including a regional bank specializing in private client services. General availability is planned for the Fall. John Foley, Finaplex's Director of Product Marketing, says, "We believe that Finaplex OnDemand is just what wealth managers need to win more business, provide better service, and manage their accounts more effectively."

Finaplex OnDemand supports the full cycle of wealth management service:

  • Identify prospects' needs, goals, and preferences
  • Propose strategies and portfolios
  • Manage, monitor, analyze, and rebalance portfolios
  • Report gains, losses, and performance

It provides these services by consolidating front-office, custodial, transaction, and market data into a single database. All application functions use this common data. Finaplex has prebuilt interfaces to major custodial systems and market data feeds. By giving advisors access to this portfolio accounting and financial planning data, Finaplex gives them a whole new level of cross-selling and up-selling power. It helps them manage their Wealth Management business more effectively and gather more assets than they ever thought possible.

Although it can serve the needs of mid-tier firms, Finaplex OnDemand also can scale to handle large-enterprise account volumes.

Finaplex OnDemand is highly configurable. A customer firm can:

  • brand the interface with its own colors, fonts, and logo
  • embed its own, proprietary strategies and capital market expectations
  • present menus tailored to its own operational groups
  • opt to take advantage of Finaplex's reconciliation services, for a total offering eliminating the administrative overhead associated with other solutions

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