Private Wealth Manager – BITA Risk Case Study
Problem: A leading UK private wealth manager, who is on a strong organic and acquisitive growth path, was seeking to scale their operations whilst at the same time optimise their senior management team’s ability to achieve their strategic priorities. With increased regulation, their ongoing scalability requirements meant they needed to have more robust suitability and risk management processes, as well as the ability to evidence them, in place.
Action: Following recommendations from their outsource provider, their front office system provider and their peers, this firm implemented BITA Risk software to independently monitor its portfolios for risk, asset allocation and portfolio construction parameters. This delivered a fully integrated monitoring, compliance and client portfolio asset allocation platform. By working collaboratively together the client achieved their goal of “a bespoke configuration that fully meets our individual needs”.
Result: In this instance BITA Monitor was deployed and integrated with their Figaro system of record. The results are perhaps best summed up in the client’s own words: “massive time savings for the investment management committee and improved consistency of portfolios and thus improved performance and client outcomes”. The firm also now lays claim to “98% portfolio compliance as a result of deploying BITA Risk. It makes everyone sleep easier at night – the investment committee, intermediary clients and portfolio managers alike. The committee has an unprecedented depth and breadth of analysis at their disposal, while IFAs simply like to know risk is completely taken care of. For their part, portfolio managers are reassured by knowing that if one of their clients’ portfolios gets out of line they will be notified.”