Finaplex, Inc., a leading provider of enterprise software solutions for the wealth management and financial services industries, today announced the release of a new generation of software that enables stronger, more profitable relationships between wealth managers and their clients. Building upon its proven strengths in data consolidation, workflow efficiency and value-add analytics, Finaplex Wealth 3.0 now offers significant enhancements to every step in the portfolio management process, from goal-setting to proposal delivery, portfolio management and reporting.
"Finaplex Wealth is reaching critical mass as a fully integrated wealth management platform. Building on our exclusive holistic data consolidation model, we are able to deliver powerful applications to address the full range of front and mid office requirements now being sought by the investment services industry," said Pete Tierney, president and CEO of Finaplex. "By fostering consistency and best practices throughout the wealth management process, Finaplex Wealth 3.0 enables users to deliver better strategic and tactical advice while maximizing their back-office efficiency and workflow and enhancing client delivery."
"The Finaplex Wealth 3.0 Portfolio Management solution provides a sophisticated and robust set of tools to design, implement and administer portfolios. Oriented toward the advisor, portfolio manager and the end client, Portfolio Management leverages the holistic data model and real-time connectivity to the overall Finaplex Wealth solution. The result is a true household view on one desktop, giving you the information and tools you need to provide high value advice and service to your wealth management clients," said June Ou, Finaplex's Vice President of Product Management.
Finaplex Wealth 3.0's enhanced portfolio management capabilities allow wealth managers to:
- Contact Management: Manage contacts more effectively with more comprehensive profile information and correspondence history.
- Restrictions and Suitability: Administer detailed questionnaires to better understand client needs, including suitability, investment objectives, tax sensitivity, restrictions and service requirements.
Define and Allocate for Goals
- Quantitative Goals: Determine goals such as college funding, retirement, home purchase, and bequests.
- Qualitative Goals: Understand objectives, preferences for preferred return or preferred level of risk.
- Models: Create firm-standard models or advisor-defined models to create hypothetical portfolios at asset class, style and security level.
- Allocation: Define most efficient asset class mix to either maximize return subject to risk, or minimize risk subject to required return.
Build, Monitor and Administer Portfolios
- Security and Product Selection: See the impact of modifying assets in one or more accounts in real time with easy-to-use portfolio construction. Includes tax loss harvesting and capital management.
- Grouping of Accounts, Assets, Households: View both dynamic and static groups, nested groups and group entitlements.
- Alerts: Get account alerts, market alerts, program alerts for drift, and custom external alerts.
- Gap Comparison: View two portfolios side by side to view metrics such as asset class, style, sector and securities
- Risk: See factor model-based calculations for stress test, historical risk and VAR.
Deliver IPS and Proposal
- Create Document and Distribute: Create proposals for single household, member of household, any account in the household. Proposals can be archived and have status for sales pipeline forecasting.
- IPS Standards: Leverage boilerplates for IPS generation according to plan type (e.g., institutional, retail, etc.)
Portfolio Accounting and Performance Measurement
- Portfolio Accounting: Portfolio accounting provides full gain/loss coverage on most instruments, including fixed income, equities, options and funds.
- Performance Reporting: AIMR consistent returns calculations with custom benchmarking.
- Reconciliation: Real time, scenario-based reconciliation interfaces coupled with transaction mapping interfaces dramatically reduce reconciliation time and effort.
- Multiple Reports: The user can group accounts, or positions within accounts, to create custom data sets for reporting. Reports can be exported, converted to PDF or stripped to XML for shipping to a statement provider. Ad-hoc reporting supports custom data extracts at the lot, position, metric (e.g. asset class) or account level.
- Reporting Options: Create reports by security, asset class, account, account group, or ad-hoc groups. Includes non-custodied accounts.
- Goal Evaluation: Plan Diagnosis shows progress toward achieving goals and items for attention/improvement in the portfolio.