Jan 29, 2014, 05:15 ET
Aggregating Assets Held Away,One Wealth Management platform for all Customer Segments
WESTWOOD, Mass., Jan. 29, 2014 /PRNewswire/ — RAGE Frameworks, a provider of technology enabled solutions and services, released a white paper on the automation of multi-custodian asset information aggregation, enabling Wealth Management firms and Financial Advisors to provide on-demand holistic performance reporting for clients across customer segments.
Bringing millions of rows of data from hundreds of sources, in as many unique forms and formats in to a common normalized format is perhaps the most arduous, labor intensive, inefficient, error prone, non-scalable and compliance-exposed part of the Institutional and HNW Wealth Management services lifecycle. Providing a holistic performance analysis view for clients is predicated on being able to deal with this fragmented, distributed and highly variable initial-step in the process, on an on-demand basis.
The white paper illustrates a case study where a Wealth Management institution accomplished precisely this, applying RAGE Framework’s LiveWealth™ Wealth Management Service to harness the upstream data chaos, by applying RAGE’s patented technology and insulating the firm from changes in the external environment.
Says Jim DeWaele, SVP of the RAGE LiveWealth™ Product Line, “Client Reporting cycle time was brought down from 45 days [after quarter-end] to same-day or on-demand, thereby completely transforming both Client and Financial Advisor experience, driving 75% operating cost savings and institutionalizing compliance across the enterprise.”
Jim goes on to add, “The key to our solution is insulating the Wealth Management firm from the variability in the way custodians present data. Our platform can automatically process financial statements from any custodian regardless of form or format, including for example, automatically processing 500 page long statements. The second part of our value proposition is a completely flexible analytics and reporting platform on top of this normalized multi-custodial data, where for example, assets can be reclassified, intuitively and interactively, whenever the FA choses to. The ability to service all customer segments from institutional clients, ultra high networth to mid-tier clients on a single platform, tailored for the needs of each segment, is the another piece of differentiating value of RAGE LiveWealth™.”
Read the RAGE White Paper at: http://www.rageframeworks.com/wp-content/themes/west/docs/case_study_aggregation_of_assets.pdf
About RAGE Frameworks, Inc.
RAGE Frameworks Inc. provides Business Process Automation and Semantic Intelligence solutions and products with the mission of bringing unprecedented Speed, Flexibility and Insight in solving the most complex and mission critical enterprise business problems. To learn more about RAGE LiveWealth™, visit www.rageframeworks.com/LiveWealth