SS&C Technologies Holdings, Inc., a Windsor, Conn.-headquartered provider of financial services software and software-enabled services, reports that a survey examining wealth management operations and technology in Asia has found that “banks in Asia do not have the technology to meet high net worth customers’ reporting and analytics demands,” according to an SS&C statement. Specifically, the… Read More >>
New Asset Management Senior Partner at Caldwell Partners
Toronto-headquartered Caldwell Partners International Inc., an executive search firm, reports that Glenn Buggy has joined as a senior partner in the asset and wealth management practice, and as the leader of the legal, risk and regulatory oversight practice. His mandate is to “focus on leading the firm’s growth in financial services legal, compliance, anti-financial crimes,… Read More >>
Broadridge’s Purchase of Direxxis Paves Way for Product Integration
Broadridge Financial Solutions has acquired Direxxis, a provider of cloud-based marketing solutions and services, in a bid to broaden its offerings for wealth and asset managers, and to provide integration with Direxxis’ marketing management and automation platform, officials say. Direxxis offers integrated enterprise marketing solutions to integrate people, processes and technologies, officials say. Direxxis’s sales… Read More >>
Chartwell to Use Vestmark Offerings
Vestmark, a Jersey City, N.J.-based purveyor of advisory solutions and wealth management technology, reports that Chartwell Investment Partners (CIP) is live on VestmarkONE, Vestmark’s unified management platform, to manage CIP’s separately managed accounts, and the Vestmark business process outsourcing (BPO) solution. Chartwell is a Berwyn, Pa.-based investment firm focused on institutional, sub-advisory, managed account and… Read More >>
Morgan Stanley: Employee Stole Client Data
Personal information was allegedly stolen from roughly 10 percent of Morgan Stanley’s wealth management clients by an employee, and account information related to nearly 900 separate accounts was briefly posted via the Internet before being removed, officials say. Morgan Stanley officials allege that information was taken by a single Morgan Stanley Wealth Management employee, who… Read More >>
Regulators Hit Barclays with $62 Million in Fines
Taken together, Barclays Capital and Barclays Bank will be paying a total of $61,913,453 in penalties to U.S. and U.K. regulators for two past incidents — an inadequate compliance system for wealth management efforts, and a failure to properly protect clients’ custody assets. In the U.S., Barclays Capital is paying a $15 million penalty to… Read More >>
Aite: Firms Need Better Client Reporting
Improving client reporting capabilities is near the top of many wealth management firms’ to-do lists, and if it’s not, according to two recent reports by market research firm Aite Group, it should be. The new reports “Client Reporting in Wealth Management: An Advisor Perspective” and “Client Reporting in Wealth Management: A Vendor Review,” indicate that… Read More >>
Smartphones as Productivity Tools?
I think I found an app that could hold the attention of Wall Street operations mavens looking for a new twist on remote desktop solutions. At Pepcom’s Digital Experience products expo last week in New York, I was introduced to Parallels, an IT provider of virtualization and automation solutions for the desktop. The company’s mobile… Read More >>
