Much has been written in recent years about digital investment advice platforms or “robo advisors.” By now, the robo wave seems to have crested and we are seeing a variety of business models leveraging automation, from the purely algorithm-powered platforms to hybrids that offer some degree of self-service augmented by specified levels of human contact and professional advice. Meanwhile, traditional advisors that have relied on a baby-boomer clientele are looking for cost-effective ways to serve the next generation of tech-savvy, wealth building and value-conscious investors.
So how do you compete in this evolving market of wealth and asset management? The robo trend has not displaced the traditional model, but it has compelled advisors to look for opportunities to automate in order to gain efficiencies and reduce the cost of service. One such opportunity that is often overlooked is the front office. Portfolio managers are the heart of the firm. They should be empowered to do what they do best even better –manage a higher volume of accounts more efficiently and deliver value that differentiates the firm.
In order to do that, they must be freed from time-consuming, mundane tasks, such as determining which portfolios need to be rebalanced every day, then creating trades needed and sending instructions to the trading desk. It’s an essential activity, but a laborious process and a drag on the portfolio manager’s time – in other words, ripe for automation.
What’s needed is a solution that automatically identifies portfolios drifting out of line, eliminating the need to review each portfolio manually, then automates and streamlines the creation of trades needed to rebalance the portfolios. In this scenario, rebalancing could be delegated to portfolio assistants and the portfolio manager would simply need to review and approve the trades.
This year, SS&C Advent launched just such a solution. It’s called Advent Genesis, a cloud-based portfolio construction and rebalancing platform that integrates with the Moxy® trade order management system. Already capable of rebalancing more than 1,000 accounts per minute, with potentially higher volumes in the near future, Advent Genesis dramatically accelerates the process from trading decisions through trade creation to trade execution.
Advent Genesis offers compelling potential for pushing more automation into the investment process, enabling advisors to service clients efficiently and delivering measurable productivity gains to the front office. It’s an example of automation actually elevating the human element for which clients are willing to pay a premium. Learn more about it.