When looking for a designated platform to help you with the workflow of asset management, you might want to take into account a couple of very fundamental, but nonetheless- important factors. Here is WealthArc’s EAM guide to assist you in choosing the best platform for external asset managers.
External Asset Manager (EAM) platforms are specialized software services designed to assist wealth managers in administering and optimizing their clients’ assets and investments.
Whether you work for a high-net-worth party, a big corporation or an institution, there are some common key features you want to look for when choosing the best external asset manager platform for you.
The Top Features of the Best Platforms for External Asset Managers
Portfolio Management
In short, Portfolio Management refers to selecting, analysing and overseeing one’s investments. These can include assets, stock options and real estate. Additionally, the best platform for external managers will provide you with mentoring and prognosis for future financial plans.
When choosing your platform, consider looking for tools which:
- Gather and organize data in a simple, easily-understandable format, such as a Consolidated Portfolio Data option;
- Create customized investment strategies with alerts to meet clients demand and avoid any violations like the WealthArc Strategy&Risk Management tool;
- Facilitate trade proposals and manage multiple orders at the same time, such as the Order Management System ;
- Provide detailed, customizable reports, like the Advanced Reporting Capabilities tool.
The above tools take off the manual labor of your hands and let you focus on sharing your actual expertise with the clients, enhancing their experience and, in turn, their investment performance. WealthArc offers complete and comprehensive assistance in all stages of the portfolio management.
Client Relationship Management
As a manager, you want to be able to have an easy insight into all your clients’ financial activities. To assist you in this, consider the following:
Relationship Management — — helps oversee clients’ life cycle management, such as meetings or trades;
KYC (Know Your Client) & Document Storage –- a place to securely store sensitive content and help you familiarize yourself with all your client agenda
Fees & Management Information System (MIS) – – easily adjustable system for your invoices you can personalize based on your and your clients’ needs.
Compliance
The last thing you want is for you or your clients to fall behind on the newest regulations. To keep up to date with all the tricks of the trade remember to include tools which will alert you about any discrepancies and suggest any additional edits. The best platform for external asset managers will offer just the tools, such as FIDLEG/FINIG, AML checks and audit reports.
Data Security
The privacy of your clients should be any platform’s top priority. Not only does it make you and them feel safer, but also enhances the trust you share. Therefore, finding an EAM service which will magnify that bond even more is so crucial.
Do Not Settle For Less
At WealthArc, you do not have to choose between one or the other; the platform covers everything. From Portfolio Management to Cyber Security; you got it! Give them a chance to prove why they are the best platform for external asset managers today!
