The challenge
BpH Wealth Management were originally using Iress’ Adviser Office integration with Microsoft Word to produce their reports. Whilst it was easy to amend the data and was highly configurable, the system and reports weren’t very aesthetically pleasing and had limited valuation integrations. The biggest problem was the fact that it only produced simple growth returns rather than their desired money weighted returns.
The solution
BpH Wealth management felt that Fastrak was the reporting tool of choice due to its unique ability to offer money weighted returns, numerous platform transactional data integrations and high-quality, configurable reports.
“It is important to have accurate transaction level data for reporting purposes. It is essential as we can’t produce the valuation reports we want to send to clients on a money weight basis but also from a MiFID2 perspective.”
Darren Weeks, compliance and operations manager, BpH Wealth Management Ltd
The impact
Since using Fastrak in their business, BpH Wealth Management has been able to save considerable time in producing client reports compared to the Adviser Office, Word based service.
Client feedback to the new report formats has also been positive, in part due to the better flow and aesthetics of the reports.
Darren also said “I would recommend Fastrak to others… We are now saving between 20-50% of time producing valuation reports.”Contact us today
With FINIO and Fastrak, plus a support team on hand if you ever need it, getting customised reporting and quality investment data has never been easier.
The industry data hub that connects and optimises the flow of investment data between investment platforms and the many software providers used by financial advisory firms in the process of giving advice.
A client reporting application connected to FINIO, that allows financial advisers to produce customised premium quality and great looking reports for their clients in a time efficient manner, and tools to help advisers deliver advice remotely.
