BROOKFIELD, Wis.—Fiserv has announced enhancements to its Unified Wealth Platform.
A new user experience and interface developed by Fiserv allows financial advisors and operations professionals to more efficiently and quickly access the tools they need to support and manage multiple managed account programs, the company said.
The platform’s new user experience transforms the support of rep-managed accounts (RPM and RPA), separately managed accounts (SMA) and mutual fund advisory (MFA) programs by delivering simplified access and dashboard-driven workflow. By optimizing operational support, this single platform creates efficiencies and frees up more time for advisors to better engage their clients and build and deepen relationships, Fiserv said.
“Steady growth in the managed account industry requires greater user efficiency that can only be achieved through digitization in wealth management. Fiserv is focused on delivering innovative and transformational solutions that help our clients grow their business and meet the needs of their investors,” said Cheryl Nash, president, Investment Services, Fiserv. “Our enhanced Unified Wealth Platform gives the stability, security and scale we have always offered, but now with a more advanced digital experience and greater integration of capabilities on our single platform.”
With the Department of Labor fiduciary rule going into effect next year, a single platform to support all advisory programs is critical, offered Fiserv.
“The Mutual Fund Advisory offering from Fiserv, coupled with a highly scaled, rule-based rebalancing algorithm, offers an ideal, efficient and cost effective environment for supporting low-balanced accounts,” the company said. “Advanced monitoring and reporting capabilities may be used to facilitate compliance with the DOL rule. In addition, the capabilities for SMA offer a more efficient workflow for money managers across equity and fixed-income asset classes, helping them to better grow and manage their business.”
Unified Wealth Platform from Fiserv provides technology automation across the entire wealth management process, including financial planning, retirement-income analysis, portfolio management, trading, accounting, portfolio performance and reporting. Fiserv currently supports nearly five million managed accounts and $1.4 trillion in assets for an elite list of wealth management firms, including eight of the top 10 broker-dealers and the 10 largest asset managers in the U.S.
The new user enhancements to Unified Wealth Platform follow enhanced advisor and investor reporting capabilities that were introduced after completing an integration with InvestEdge in October 2015, as well as new rep-as-portfolio manager (RPM) tools announced by Fiserv in March 2016.