An enterprise wide solution, the product is aimed at improving the customer service given by private client fund managers and relationship managers and significantly enhancing productivity. WMS has identified that the majority of wealth managers in the sector need to achieve quick results without replacing their back office systems, which are often rather old private banking packages. LISA Power Station does so for a modest cost and within a short timescale.
The system has the ability to maintain a comprehensive client investment profile, with documentary evidence of holdings, mandates, investment reviews and other actions creating a full audit trail â a major step forward in terms of KYC (Know Your Client) requirements.
It manages and consolidates all sources of electronically held data, transforming it where necessary into a new form which optimises its value and creates a real time information repository which can feed and receive data to and from multiple different back office systems.
LISA Power Station includes the following elements
- A unique file decomposition and re-composition engine, that enables the wealth managerâs own Power Station to interface with one or many back office systems without a programmed interface, on a scheduled basis
- A fund manager support toolkit that incorporates the ability to define investment mandates, to build multi-dimensional models, to calculate performance attribution to GIPS standards, to support collateralised lending, to hedge portfolios and to automate the production of suggested trades across multiple portfolios.
- A document management processor that enables the production of extremely high quality version controlled valuations and correspondence in hard copy, HTML, XML, Word or email form. These reports can present a consistent company brand around the world, in many languages.
- A document archiving system that allows every report ever printed and every document received to be stored in electronic form, forever.
- A real time data repository for holding, feeding and receiving information from multiple different back office systems.
All of these elements work together or can be supplied as separate modules.
"There is an urgent need for a new solution to support fund and relationship management activities in private client wealth managers,â said Paul Foll, Sales Director of Wealth Management Software: âThe key elements of LISA Power Station are easy interfacing, a consolidated source of valuation data and homogenous output originating from diverse back office systems. We expect this solution to be well received by global and local wealth management businesses."