Quilter Cheviot chooses BITA monitor

London, 31st July 2017: Leading UK wealth manager Quilter Cheviot is to implement corfinancial’s BITA Monitor in a risk monitoring and management upgrade covering £21.8 billion* of private client assets – taking BITA Risk's private wealth coverage to around £140 billion, a 20% share of its target market, and the latest in a string of major wins for the BITA product set.

BITA Monitor is a flagship application within the BITA Risk suite that is increasingly recognised as a must-have tool for institutions wanting to manage the true impact of suitability risk on their service offerings and client set. The software enables private banks and wealth managers to systematically test client portfolio risk against the mandates agreed with their advisors, allowing them to constantly monitor outliers and report on exceptions across their client base.

As such, BITA Monitor provides an invaluable safeguard, and source of competitive differentiation, at a time when the regulatory spotlight is increasingly focusing on suitability. The ability to drill down to client and holding level not only satisfies immaculate evidencing standards, but also provides for far more meaningful conversations with investors about their financial objectives and risk tolerance.

Nick Herbert, Head of Investment Risk at Quilter Cheviot, said:

“With increased regulatory scrutiny, it has become essential for an all-in-one systematic risk monitoring and management solution to replace, improve and automate a number of existing processes.

“As well as proactively monitoring all portfolios across Quilter Cheviot’s client base, BITA Risk provides us with a better understanding of the investment risks driving the returns in our client portfolios, helping us to improve investment decision-making and reducing regulatory, operational as well as investment risks. BITA Risk is a product that meets the requirements we seek, and has a provable track record in the wealth management space.”

Commenting on this latest client win, Daryl Roxburgh, Global Head of BITA Risk, added:

“We are delighted that Quilter Cheviot is rolling out BITA Monitor to its 161-strong manager team and we anticipate the firm rapidly seeing benefits for the institution, relationship managers and clients alike.

“As specialists in private client risk monitoring and portfolio optimisation, we know that avoiding regulatory censure is maximum priority for wealth managers today. But improving client outcomes and increasing workflow automation are simultaneously top of the agenda, so we have always designed our products with all three objectives in mind.”

BITA Risk continues to dramatically increase its client base across the globe, while also gaining significant acclaim within the private client investment community. In May 2017, BITA Risk won “Best Risk-Profiling Solution” for the fourth year running at the WealthBriefing European Awards, and has just won "Best Risk Management System" at the Systems in The City (2017) Awards.

*As at 31 March 2017


For further information or comments, please contact:

Daryl Roxburgh (BITA Risk) Daryl.Roxburgh@corfinancialgroup.com 020 7877 4021

Sophie Gorman (Quilter Cheviot) sophie.gorman@quiltercheviot.com 0207 150 4246

Neha Popat(Quilter Cheviot) neha.popat@quiltercheviot.com0207 150 4366

Notes to Editors

About BITA Monitor, the BITA Risk Application Suite and corfinancial:

The BITA Risk product suite offers a comprehensive package enhancing risk-profiling, client suitability, portfolio construction, investment suitability assessment, investment proposal generation and portfolio monitoring against mandate.

The product set comprises:

BITA Monitor – enables institutions to systematically “test against mandate” client portfolio risk. By monitoring outliers and exception reporting across a client base, the application offers the ability to drill down to client and holding level.

BITA Star – supports the sales and regulatory processes of private client wealth managers, by giving consistency to client suitability and efficiency to investment proposal generation. Through an integrated, auditable process, consistency is guaranteed and a better client experience is delivered.

BITA Vision – provides a rapid analytical tool for portfolio analysis for investment teams and quants. Through a combination of building and testing strategies, covering risk and performance attribution, stress-testing and optimisation, it delivers analysis and insight into portfolios through a wide range of reports and a GUI interface or MatLab.

BITA Risk is part of the corfinancial group, who develops its own Front, Middle and Back Office software products for the Financial Services sector across the UK, Europe, the United States and the Pacific Rim. corfinancial operates from its offices in London, Boston and New York.

You can learn more about the BITA risk product set and corfinancial at www.corfinancialgroup.com.

About Quilter Cheviot:

Quilter Cheviot, part of Old Mutual Wealth, is one of the UK’s largest discretionary investment firms and can trace its heritage to 1771.The firm is based in twelve locations across the UK, Jersey and Ireland and has total funds under management of £21.8bn (as at 31 March 2017). Quilter Cheviot focuses primarily on structuring and managing bespoke discretionary portfolios for private clients, charities, trusts, pension funds and intermediaries.

Quilter Cheviot Limited is registered in England with number 01923571, registered office at One Kingsway, London, WC2B 6AN, England. Quilter Cheviot Limited is a member of the London Stock Exchange; is authorised and regulated by the UK Financial Conduct Authority; has established a branch in Jersey and is regulated under the Financial Services (Jersey) Law 1998 by the Jersey Financial Services Commission for the conduct of investment business in Jersey and by the Guernsey Financial Services Commission under the Protection of Investors (Bailiwick of Guernsey) Law, 1987 to carry on investment business in the Bailiwick of Guernsey; is regulated by the Dubai Financial Services Authority as a Representative Office (and its business name in Dubai is Quilter Cheviot Limited (DIFC Representative Office)); and has established a branch in Dublin, Ireland with number 904906 and is regulated by the Central Bank of Ireland for conduct of business rules. Accordingly, in some respects the regulatory system that applies will be different from that of the United Kingdom.

About Old Mutual Wealth

Old Mutual Wealth is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

It has an adviser and customer offering spanning:

  • Financial advice delivered by the Intrinsic network in the UK and AAM Advisory in Singapore
  • Platform-based wealth management and protection products delivered by Old Mutual Wealth in the UK and Old Mutual International globally
  • Asset management solutions delivered by Old Mutual Global Investors
  • Discretionary investment management delivered by Quilter Cheviot.

Old Mutual Wealth oversees £122.2bn in customer investments (as at 31 March 2017).

Old Mutual Wealth is part of Old Mutual plc a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million customers across the world and has a total of £394.9 billion of assets under management (as at 31 December 2016).This press release is for journalists only and should not be relied upon by financial advisers or customers. Investments may fall or rise in value and investors may not get back what they put in.