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.
About 3i Infotech
3i Infotech (3i-infotech.com) provides software products and IT services for the Banking, Financial Services & Insurance (BFSI); Manufacturing, Retail & Distribution; and Government verticals. The Company's quality certifications include ISO 9001:2008 for BPO, ISO/IEC 27001:2005 for Data Centre Operations and ISO/IEC 20000-1:2005 for Data Centre Management Services. The Company has embarked on re-appraisal under SEI CMM ML 5 for all of its major software development centres in India.
By using its domain knowledge and through continuous investment in technologies, 3i Infotech Limited helps corporations in their businesses through its expertise in enterprise-class software solutions, software services, information security consulting, system integration services, IT infrastructure and Disaster Recovery solutions. 3i Infotech services over 1500 customers in more than 50 countries across five continents.
For more information, please contact:
Nicola Harley, Head of Marketing
3i Infotech (Western Europe)
Switchboard: +44(0)20 7071 3000
P: +44(0)20 7071 3012 / F: +44(0) 20 7071 3001