Fiserv has added new advisor portfolio management and trading technology to its Unified Wealth Platform, the company’s single platform for portfolio management, trading, accounting and reporting for managed accounts.
Over 5,000 advisors and users supporting rep as portfolio manager (RPM) or rep as advisor (RPA) programs have successfully migrated to the enhanced platform.
This new technology benefits: broker-dealers, who will enjoy greater operational efficiency across their managed account businesses with advisor capabilities available from the Unified Wealth Platform; asset or model managers, who will have increased distribution opportunities as more financial advisors migrate to the Unified Wealth Platform, which also has integrated model-portfolio management solutions; financial advisors, who will be able to streamline workflow through enhanced portfolio management and trading tools, and manage full-discretion and non-discretionary accounts on a single platform; and investors, who will receive greater clarity, insight and efficiency from their advisors when they leverage the new tools.
“Today’s investors are seeking goals-based advice from qualified advisors as they assess their financial objectives and consider how to diversify their portfolios for both stability and future growth,” says Cheryl Nash (pictured), president, Investment Services, Fiserv. “Advisors utilising RPM and RPA programs have experienced steady growth, largely due to their ability to provide enhanced services that are in step with investors' evolving needs. Fiserv ensures that our clients have the tools and technology to provide wealth management services at the speed of life.”
Fiserv says that financial advisors using the enhanced Unified Wealth Platform find it easier to manage and trade on the platform with new options for customisation, configurability and graphical displays of data. The new user interface provides advisors with access to advanced features and functions, including tax harvesting tools, new dashboards, single-click access to account details and timely trading.
Another key capability leverages the model management solution from Fiserv as a repository for investment models. Fiserv clients now have all managed account investment models – covering RPM and RPA, as well as mutual fund and exchange-traded fund advisory (MFA/ETF), separately managed account (SMA) and unified managed account (UMA) programs – in one location. Advisors using proposal capabilities within the Unified Wealth Platform can look across all approved investment strategies at their firm to choose the most suitable product for their clients.
Results of a recent poll summarised in the CEB TowerGroup report, “Driving Advisor Performance with Frontline Wealth Technologies,” found that streamlined or integrated advisor technology highly correlated to the adoption and effectiveness of these tools.
“With frontline technology key to driving advisor performance, it is imperative that advisor tools be as integrated as possible,” says Darrin Courtney, research director, CEB TowerGroup. “The rise of rep-as-portfolio-manager and rep-as-advisor programs demands a more holistic approach to both wealth management and the technology behind it — which ultimately benefits the investor.”