In developing the new service for wealth and investment managers, SGSS undertook an extensive system evaluation process, identifying Figaro as the platform best placed to support their business and client base.
One of the key reasons for choosing FIGARO is its ability to efficiently support the full range of investment services, combined with high scalability and complete regulatory coverage. JHC’s extensive experience in the investment industry and their commitment to continuously enhancing the platform to meet future demands are also critical drivers behind the partnership.
FIGARO provides SGSS with a fully integrated front-to-back solution, delivering the efficiency, scalability and reliability required for a successful outsourcing service. A series of new features have been developed to further support SGSS’ proposition, ranging from multi-asset order management fully integrated with SGSS’ internal trading system, to automated Anti Money Laundering and credit rating checks for improved client onboarding. Behind the scenes JHC deployed a variety of new capabilities which helped to ensure a smooth and successful implementation. “Using a proven and respected system such as FIGARO for our wealth management business made perfect sense. JHC are uniquely positioned to support SGSS’ objective to help our clients grow through adapting their operations to cope with scale, operating risk and regulatory changes. The implementation of FIGARO has been very smooth, enabling us to fully focus on new initiatives and business development, in the secure knowledge that we have the right technology solution and partner in place,” said Michael Le Garignon, Head of Sales, Business Development & Relationship Management UK at SGSS.
SGSS has been mandated by PSG Wealth (PSG), the wealth management business of independent South African financial services group PSG Konsult, to provide a comprehensive execution and investment administration outsourcing solution for its direct-to-client online wealth and broker-dealer platforms. SCM Private, a UK-based innovative investment firm, also chose SGSS’ platform to launch three new online direct-to-consumer services.
SGSS was selected by PSG for its capacity to engage very specific target audiences and provide a tailored, turnkey wealth and investment management solution that adapts to regulatory and cost-cutting pressure and supports its international client business. The broader front-to-back office solution combines an end-investor web portal with performance measurement, portfolio composition and real time positions alongside middle-and back-office services that span deal execution, portfolio management functionalities, multi-product clearing and settlement processing. John Blackman, Chief Executive Officer at JHC stated, “I am delighted that SGSS selected FIGARO to support its business and it is a testament to the dedication and commitment of those concerned that SGSS’s new customers are now live. We look forward to developing a long term strategic partnership with SGSS, and to working with them as they bring new customers online in the future”.