Tilney Private Wealth Management Goes Live with Master Account

30 July 2008

Leading investment manager, Tilney Private Wealth Management (TPWM), a division of Deutsche Bank, has gone live with a new release of Master Account, an internet based system developed by MBA Systems to support TPWM’s IFA partnership business. Master Account is designed to help TPWM’s IFA partners create an optimum investment profile for their clients, comprising all assets in a single picture, which is branded with the IFA’s own corporate identity.

Accounting for around £500 million of its total £8.1 billion of funds under management, TPWM values its Master Account IFA partnership business. “Our IFA partners are very important to us,” explains John Phelan, operations director for TPWM, “Master Account has been developed by MBA to enable us to partner IFAs in providing the best possible investment solution for their own clients.”

In addition to the funds under management with TPWM, Master Account enables IFAs to capture all other investments that their clients hold, from property to fine wines and from art to racehorses as well as financial products outside of TPWM’s management such as savings accounts and pensions. This enables an IFA to have a complete picture of their clients’ total wealth and asset distribution, which equips them to manage accounts more effectively. Each client is able to share the same view of their account with their IFA when seeking advice over the telephone. Furthermore, the report is branded with the IFA’s full corporate identity.

Investing with TPWM provides IFAs with a range of 7 asset classes. When viewing a portfolio online with Master Account, the current value of the assets under management with TPWM are shown as well as other details, including a full transaction history.

TPWM received a very positive response from its IFA partners following the piloting run of Master Account. “They particularly like the way it is presented and the richness of the client reporting. Having a single picture of each client’s complete asset base has been tremendously well received,” says Phelan.

IFAs interested in becoming a partner with TPWM should contact the firm. New IFA partners are accepted following the successful completion of due diligence.

MBA Systems, which undertakes all internet service development for TPWM, also hosts Master Account at its purpose-built data centre, which has been constructed to deliver “tier 1” levels of security as required by the financial services industry.

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