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3i Infotech Highlights Future Trends In Wealth Management Reporting

Analysis highlights increasing pressures on wealth managers as the industry recovers from the recession

Private wealth management firms will come under an ever increasing burden from demanding clients, and more aggressive regulators in the coming years, tightening margins and forcing a re-think of traditional servicing models. At least, these are the findings of a white paper from 3i Infotech, a global provider of IT solutions. Entitled, “Future Trends In Client Reporting For Private Wealth Managers”, the report analyses the next generation of challenges that firms will have to overcome in order to retain business and compete more effectively. The report was written in conjunction with Simon Harris, Founding Partner, Investment Solutions Consultants LLP (ISC), following a 3i Infotech seminar on the subject earlier in the year.

With wealth managers finding themselves under increasing client pressures in the wake of the recession; recognising the future trends in the market now, and being able to respond most efficiently as these challenges materialise, will ensure that individual firms continue to have longevity in the market place.

The major trends identified are as follows:

Faster information – Clients are increasingly demanding more expedient reporting, with many expecting an update shortly after month end.

Increased amounts and more accurate data – Clients are increasingly asking why fund managers make the decisions they do with portfolios.

Greater transparency – With some firms, and as a result, their clients, being hit hard by the recession, customers are demanding to know all the risks associated with their portfolio more clearly than ever before.

Regulation – With the US and EU continuing to frame their regulatory responses to the recession, the impact on wealth mangers will be felt for some years. Firms will have to have the best understanding of this regulation and be able to respond accordingly.

With the major trends identified the white paper goes on to analyse the associated operational issues that will affect firms as they respond to the market trends and also how firms can manage these challenges on an ongoing basis.