The Challenge that Wealth
Managers face today

The Challenge that Wealth
Managers face today

To ensure that comprehensive wealth planning remains scalable for a large number of clients and overcome challenges, financial service providers are encouraged to optimize their processes through automation and digitization. Only in this way can established service providers continue to withstand the pressure from fintech and technology giants in the future.

Here are some challenges that Wealth Managers faces:

Unprecedented disruption requires a transformation of the middle/back office

Unprecedented disruption requires a transformation of the middle/back office

01

Fintech
pressure-

Deliver great experiences

Empower associates & tap into
worplace’s full potential

Enhance & differenciate
customer experiences

Deliver high touch, high tech,
multi channel experieneces

02

Accelerated business climate-

Build resilient operations

Future proof operational
processes

Achieve business continuity
through automated processes

Manage risks and regulatory
obligations

03

Legacy
environment-

Unlock productivity

Remove fragmentation &
pursue growth

Decrease costs, speedup time
to value & minimize risks

Transform & expedite
processes/ deployments

Three major forces disrupting
Wealth Management

Three major forces disrupting
Wealth Management

1 Commodilization of Wealth Management

300%

growth in fintechs active in wealth
management in the past 3 years

60%

of wealth managers fear losing part of
their business to a standalone Fintech

>50%

of advisors have altered their fee
structure in the last 4 years

2 New client and employee expectations

£9tn | $12tn

estimated transfer of wealth- the larges in
history- from baby boomers

75%

a wealthy millennials make investment
decisions based on impact

#2

on the top 10 hardest jobs to fill are
financial advisors

59%

increase in the number of Advisor’s

3 Overhaul of business to alleviate margin pressures

75%

of investment management films with
stagnant or shrinking margins

60%

of firms are planning or implementing
automation or cognitive technologies

~50%

are focused on streamlining processes or
improving policy complience

59%

increase in the number of Advisor’s

Servicenow software solutions for Digital
Transformation in the Financial Sector

Servicenow software solutions for Digital
Transformation in the Financial Sector

ServiceNow software for asset and wealth management is an engine for digital transformation in the financial industry. We digitise and automate precisely the processes that software can perform faster and more reliably than people, while at the same time are less visible to financial services customers. The wealth manager or asset manager thus gains freedom for value-adding activities that require the human factor in order to secure the trust and acceptance of the client. The result is efficient and industry-proven wealth management solutions that deliver new portfolio insights for wealth managers, ideally support the advisory process, facilitate the intensive management of individual mandates, or provide professional and solid information on risks.

ServiceNow is an integrated Wealth Management platform designed to allow wealth managers to run their complete business life cycle from front office to back office, without having to use multiple systems. It enables wealth management firms to service all type of client segments including highly affluent, high net worth individuals and single and multi-family offices. The wealth management software suite is flexible and customizable helping clients address client management, financial advisory, portfolio management, compliance, and client reporting & accounting. Wealth management systems like ServiceNow support discretionary, non-discretionary and advisory services.

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FSO is the “Platform Of Platforms” for
Financial Services
sample ‘Front-to-back’ applications

FSO is the “Platform Of Platforms” for Financial Services sample ‘Front-to-back’ applications

Wealth Management

  • Guided client discovery
  • Client Pre-Onboarding &
    Qualify: KYC / AML / CIP / OFAC
    / Suitability
  • Client Onboarding / Account Opening
  • Broker Operations
  • Asset reporting
  • Client Servicing & Transacting
  • Complaint Management
  • Broker Services
  • Mutual Fund & Private client Services
  • Advisor Support (Inquiries & Service)
  • Account transfers/ Transfer of assets
  • Case Management

Asset Management

  • Investment Management
  • Defined Contribution plan recordkeeping
  • Investment products
  • Institutional Client Onboarding
  • Asset reporting
  • Client Servicing & Transacting
  • Institutional Customer Services
  • Complaint Management
  • Market & Securities Services
  • Trade order requests, execution,
    clearing, confirmations, settlement,
    fails, disputes, reconciliation
  • Plan sponsor and participant onboarding
  • RFP/RFI management

Servicenow Assest and Wealth
Management Solutions benefits

Servicenow Assest and Wealth Management Solutions benefits

1

Business

Leverage the HNWI network

Robust security framework

Higher operational efficiency

Cash Flows: support for non-uniform
coupons and repayments

Amortization and accretion of
premium and discount

Partial face value redemption

Structured Products: supporting
unitized and value-based products

Ease of enhancing product portfolio

2

Clients

360-degrees view of all
investments

Notifications and alerts

Subscription / Redemption
capture using client portal and mobility devices

Systematic investments of
model portfolio

Single repository for
information

Efficient and prompt responses

Integrated web portal with
great UI experience

3

Advisors/ Managers

Access to 360-degree view
of client and prospect

Add new prospects and update
profile of existing prospects

Fix up appointments with clients/prospects
and capture corresponding meeting notes

View client portfolio and performance

Order placement for mutual funds

View order and transaction history for clients

Product category wise holding details

Get alerts on SIP, insurance
premium, dividend, and investment maturities

4

Investment Teams

Enhanced features for alternate
assets, private equity, and
fixed income module

Advanced Portfolio and
Risk Analytics

Alert’s engine

Real-time integration
with broker/exchange
for execution

Rule based investment
and compliance monitoring

Know and control your assets with ServiceNow

There is a need to optimize data and analytics platforms that can increase efficiency, reduce costs and mitigate risk, and provide new business opportunities.

Contact Us

Know and control your assets with ServiceNow

There is a need to optimize data and analytics platforms that can increase efficiency, reduce costs and mitigate risk, and provide new business opportunities.

Contact Us