Societe Generale Securities Services (SGSS) in the UK has been mandated by the investment company SCM Private to provide a wealth and investment management administrative outsourcing solution for its three direct-to-consumer online wealth management solutions – SCM Direct.com, MoneyShe.com and SCM 50.com.
SGSS was selected by SCM Private for its capacity to provide a complete front-to-back office wealth management solution which 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.
The solution also provides custody safekeeping at a segregated client account level.
Gina Miller, founder of SCM Private says: “SGSS was the only provider that was able to meet our functionality, administrative, custody and fund administration requirements. They understand the wealth management industry’s need and demand for a tailored turn-key solution that adapts both to regulatory and cost cutting pressures, as well as the changing profile of end-investors.
“Our new online investment direct-to-consumer platforms have been developed to engage very specific target audiences and offer them low cost access to high end investment management by undercutting competing platforms on costs and fees. The technology and services provided by SGSS to power all three sites will be instrumental in achieving our goals of efficiency, reducing costs and improving transparency for our clients.”
“SCM Private represents an important client partnership for SGSS,” says Michael Le Garignon, head of SGSS sales, business development and relationship management in the UK. “We have worked closely together to ensure that we are delivering a solution that not only represents value both to SCM Private and their end-investors, but that delivers a scalable, long-term solution.”
SGSS’ wealth and investment management outsourcing solution, launched in the UK in September, is aimed at mid-tier wealth and investment fund managers and spans the full post-trade value-chain from global execution to global custody.
