Asset and wealth management consultancy Alpha FMC has launched a new Data Solutions division to bolster its digital consultancy offering.
The creation of the division is in response to growing demand from its clients for consulting advice and data services. This service will help to increase asset managers’ capability to manage data more strategically in order to reduce operational and compliance risks and capitalise on its data assets.
A sharp increase in data flowing across increasingly complex distribution chains has compounded the challenge of harmonising ‘messy’ data from diverse sources and formats. Accurate and granular data about investors’ activity in funds across the distribution chain is an area of great interest to asset managers, who recognise that a single ‘golden source’ of enterprise level data source can be invaluable to teams across their firms.
Alpha FMC’s Global Chief Executive Officer, Euan Fraser (pictured), says: “The data solutions market is growing rapidly, driven by cost pressure, client insight requirements and, of course, regulatory pressures. Alignment of data is becoming one of the big games in town. The disintermediated nature of asset management means that data is ‘messy’. It is complex, volatile, diverse and much of it is provided by third parties. It is therefore difficult and expensive for clients to pull together a complete picture of who has invested in its funds and who exerts influence over those investment decisions.”
Alpha has also acquired Track Two, a specialist data solutions and consulting company based in Frankfurt. Track Two already works exclusively with asset managers in the UK, Germany and France, providing consulting and data services to standardise and enhance fund transactions data. Track Two was founded by Stefan & Alex Maszynski in 2005.
As a result of the Track Two acquisition, Alpha Data Solutions’ proposition has been expanded to include Track Two’s data services offering, 360 SalesVista. This enterprise data management service helps asset managers to match transactions and holdings data back to the client and product master to enable processes in sales, finance, compliance, and product management.
Fraser says: “As part of our data solutions expansion strategy, we are delighted to have acquired Track Two, a data science consultancy with extensive expertise in asset management and transaction data, underpinned by pioneering technology.”
Stefan Maszynski, Co-Founder of Track Two and now an Alpha Director, says: “The Asset Management industry is looking to reduce costs and find its competitive edge. At Track Two, we offer both. By joining Alpha, we deliver a tailored, end to end solution to the new challenges within the sector.”