The bank will roll out the “myWealth Advisor-Aladdin Wealth” combination platform to Singapore and Hong Kong.
Standard Chartered is integrating its “myWealth Advisor” platform with BlackRock’s wealth management technology platform, “Aladdin Wealth,” and the initial rollout of the combined systems will be to Singapore and Hong Kong across the bank’s Priority, Priority Private, and Private Banking client segments, officials say.
The bank plans to offer the integrated systems to additional markets later.
The “myWealth Advisor” platform is Standard Chartered’s “personalized investment planning tool that combines Chief Investment Office house views and expert insights to help clients capture investment opportunities,” officials say.
The integration effort is intended to improve the bank’s wealth advisory and risk management offerings for its relationship managers and investment advisors, officials say. “The collaboration builds on the broader partnership between the bank and BlackRock and reflects Standard Chartered’s continued investment in digital innovation to elevate client experience.”
The integration will provide the bank’s relationship managers and investment advisors with analytics and portfolio insights to yield “more intuitive, data-led and personalized advice for its affluent clients,” officials say.
Aladdin Wealth offers portfolio risk and return analysis across equities, fixed income, funds, exchange-traded funds (ETFs), and alternatives. The platform “also introduces enhanced capabilities such as stress testing and scenario analysis,” officials add. These features are intended to help “advisors support clients in better understanding how their portfolios may perform under different market conditions, as well as portfolio management tools to support more tailored investment strategies.”
The integration of the platforms offers relationship managers and investment advisors “a consolidated view of portfolio risks and deeper, more holistic portfolio analytics to support client conversations,” officials add.
“As portfolio complexity and client expectations evolve, deeper risk insights and analytics can help wealth managers take a whole portfolio view and deliver tailored advice at scale,” says Susan Chan, head of Asia Pacific, BlackRock, in a prepared statement.
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