Bravura Solutions Limited (Bravura) (ASX: BVA), a leading global supplier of transfer agency and wealth management software applications and professional services, is pleased to announce that Russell Investments (Russell) has launched its Russell iQ™ suite, implemented on Bravura’s state-of-the-art, next generation wealth management administration software – Sonata.
Russell iQ™ Investments is a new online investment account, providing advisers and SMSFs easier access to Russell’s range of actively managed, multi-asset solutions. Bravura’s Sonata software, coupled with Russell’s web portal enables Russell to offer revolutionary products in the retail wrap market. The platform provides unique servicing to clients and advisers, allowing retail investors to emulate institutional investors by investing directly in Russell’s award-winning funds.
Siva Sivakumaran, Managing Director, Infrastructure at Russell said: “Bravura played a key role in the launch of our Russell iQ™ product. The successful delivery of this project required collaborative and cohesive teamwork between Russell and Bravura, and demonstrated the strength of the relationship between our two organisations.
“Russell has worked with Bravura for over 15 years, and together we have implemented a number of Bravura’s applications. Throughout this time, Bravura has built an intimate understanding of our business and offering, resulting in a continuous stream of successes working together to meet industry needs.”
Designed in close consultation with advisers, Russell iQ™ Investments provides direct access to Russell’s wide range of actively managed, institutional quality investments at a price point usually reserved for wholesale investors. Through Sonata, it also offers in-depth online dashboards for online reporting and comprehensive administration features to help advisors manage their clients’ accounts.
Jon Alder, Head of Professional Services, Bravura said: “This project showcases the strength of Sonata from an investment wrap perspective, through the provision of in-depth investor reporting, straight-through processing and compliance with Australian tax regulations. The implementation illustrates Sonata’s ability to enable rapid product configuration and integration to existing complex business system frameworks, through Sonata’s Service-Oriented Architecture (SOA) and an increasing catalogue of web services.”
Currently Russell and Bravura are jointly implementing additional Russell products such as iQ™ Super and iQ™ Pension onto the Sonata platform.
Combining over 15 years of leading trusted software and rich functionality with the advantages of modern and scalable technology, Sonata is Bravura’s wealth management application suite for investment and policy administration. It provides a single solution with coverage for life insurance, trusts, pensions, superannuation and wrap products. A comprehensive end-to-end solution, it includes web access, workflow and real-time straight through processing.