Source: Focus Solutions
Fintech provider Focus Solutions has announced two new initiatives that will modernise the wealth market and change the way wealth managers and private banks interact with their clients.
With a new cutting-edge personalised client portal, focus:wealth, will create a more integrated and efficient way for wealth managers to engage, advise and retain clients than the legacy systems available on the market today.
focus:wealth - benefits
• One holistic view of the client through the software’s financial planning and portfolio management capabilities
• Personalised journeys through a customised client portal
• Single source workflows that simplify and streamline business processes
• Ability to identify and engage with potential clients efficiently
• Easy integration with the wealth manager’s existing systems
focus:wealth - features and functionality
• Manage clients from prospect, through to take on and into ongoing relationship management
• Record and manage interested party relationships
• Create personalised suitability letters
• Fully auditable with comprehensive MI & management reporting
• Tailor communications at individual client level
• Design and manage own workflows
• Highly configurable
• Multi-layered hierarchy
• Document management and storage
• Client portal with access for individuals and interested parties
Launching alongside focus:wealth, and building on its core capabilities, is a powerful new collaboration, Wealth Hub, an integrated solution for both wealth managers and their clients. Bringing together the ‘best in class’ software available on the market and offering cutting-edge technology, it allows wealth managers to deliver exactly what their clients need all in one place.
Wealth Hub brings together three of the best and most innovative solutions in the industry - focus:wealth by Focus Solutions, BITA Wealth by BITA Risk and IMiX by Investment Software Limited. These three technologies lead the market in client portal, risk profiling and management and portfolio management respectively.
Wealth Hub partners
BITA Wealth - suitability risk profiling, investment management and monitoring
• Key point suitability assessment: a sophisticated assessment of a client’s risk and suitability profile
• Suitable investment products: filtering and matching of your investment propositions to the client’s profile
• Portfolio construction & what-if: dynamic portfolio review and management in the context of the client’s profile, investment policy, model and a series of portfolio metrics including ex-ante risk, yield and look-through
• Portfolio advanced analytics: ex-ante and ex-post risk, performance, style, factor, liquidity, ESG and economic exposure among other quantitative metrics at holding, asset allocation and portfolio levels
• Investment proposal: high quality investment proposal with full portfolio analysis and scenario testing rapidly produced
• Nightly monitoring: all portfolios monitored against policy, mandate, model and suitability with manager and enterprise management information
• All KPIs and metrics presented to the user through an interactive dashboard with direct clicks to action
IMiX - portfolio management and back office solution
• Order management with multiple interfaces
• Pre and post trade compliance
• Portfolio modelling & rebalancing (asset allocation)
• Web portal
• Real time performance measurement
• Comprehensive reporting suite
• MIFID II compatible
• Fee calculation and reporting
• Settlement processing
• Capital gains tax: CGT what-if and reporting
Dave Upton, Managing Director at Focus Solutions, said: “A lot of private client businesses are trying to bring new propositions to market, built around a disconnected toolset, which means they’re building inefficiency into the heart of what they’re doing.
We’ve built focus:wealth on the same tech stack the powers the rest of our software - that means firms can have a fully integrated, fully joined up advice and DFM offering sitting on a shared collaboration platform. The Wealth Hub partnership adds best-in-class portfolio and risk management capabilities from IMiX and BITA, making this an important development for the industry.
It gives massive control and efficiency to your business in the way that it brings together all of the elements required to monitor your business and do suitability and quarterly reporting packs whilst retaining a full audit trail. The level of control it gives you lets you get it right first time, every time.
Our approach unlocks the next generation of private client strategic initiatives.”
Imran Khan, Managing Director of IMiX, said: “Our culture is always about being better than today. Being part of the Wealth Hub further accelerates this drive; by working with similar minded individuals and teams we can create significant step change. IMiX is always looking to move the needle on the dial.”
Daryl Roxburgh, Global Head of BITA Risk, said: “We are delighted to build on the integration work we have already done with Focus for our first mutual client. This will enable firms to benefit from the combination of the Wealth Hub and BITA eco-system to deliver leading functional and technical solutions in a seamless joined-up way, driving user experience, efficiency, business control and client outcome.”