Aimed at private client investment managers, private banks and large IFAs, Investmaster WRM has been created to ensure that these organisations are fully compliant with all relevant industry regulations including 'know your client', suitability, appetite for risk, benchmarking and 'treating the customer fairly'. Wealth managers are looking to manage a greater number of clients in the most cost effective and efficient way possible. Investmaster WRM makes this possible by providing a high level of automation, straight through processing (STP) and integration to help wealth managers effectively manage their client relationships.
Bringing together best-of-breed products from specialist companies with Investmaster's own market leading products, the full range of functionality includes portfolio and client management tools, detailed investment analysis, risk profiling and sophisticated reporting. The flexibility of the platform means that it can be implemented as a tightly integrated solution or as individual components, which can be integrated with a company's existing systems.
The core components of Investmaster WRM include:
Financial Planning - Assists the user in building and nurturing valuable client relationships. Investmaster WRM includes features such as a 'fact find' to identify current and planned financial expectations, the ability to record time or event-based milestones, record non-investment assets and liabilities, map and present long-term cash flow and track individual income and expenditure items. All compliance and regulatory requirements are inherent in the system.
Risk Profiling - This functionality matches clients' risk appetites and return requirements with an appropriate bespoke or model portfolio. Questionnaires and related data can be tracked and viewed over time so that portfolios can be monitored and rebalanced and companies are able to design their own risk assessment questionnaire and define the asset classes and benchmarks they wish to include.
Document Management - Regulators have turned their attention to the business processes and safeguards that firms are employing to manage their documents and provide high quality client reporting. Investmaster WRM provides full document management facilities including the production, distribution, storage, archiving and timely retrieval of documentation.
Contact Management - This Microsoft Outlook based solution enables firms to demonstrate to their clients that they are efficiently managing their interests. This includes an ongoing record of contact with clients and important background information, enabling the wealth manager to build a comprehensive view of the client.
Tom Brady, Chief Executive Officer at Investmaster commented: "We realised from talking to our customers that there was a requirement for an integrated system that could tie together the core elements of wealth management. Regulatory pressures, an increasingly competitive market and cost issues are the key drivers and with Investmaster WRM we have developed a solution with a single support infrastructure. Clients will be able to streamline and improve processes to help cut costs and alleviate the regulatory pressures they face."