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FINANCIAL ADVISORY SERVICES
The ObjectWay Financial Suite platform provides support for private bankers’ advisory services through a holistic approach that meets the high standards of the most demanding customers.
Even though the three solutions are closely interrelated through the sharing of common data and functions, they can each be used on a stand-alone basis.
OFS Advice - Client Financial Planner consists of MiFID compliant advisory support tools for financial institutions and their clients.
The solution is intended for multichannel advisory services, measurement of the effect of proposed transactions on the riskiness of portfolios, financial planning "by objectives" based on asset allocation.
OFS Advice - Client Financial Planner fulfills a multi-faceted role in support of advisory processes, in particular:
An integral component of the ObjectWay Financial Suite that provides financial institutions with full navigation services, thorough analysis and reporting of the risks and returns of client portfolios.
The solution comprises the following modules:
OFS Advice - Portfolio provides up to date information to advisors (portfolio managers, tied agents, bank consultants, private bankers and relationship managers) and their managers on:
The solution’s prime advantages are its ease of use, the wealth of information supplied, the ability to adapt analyses and customize report formats. The benefit for the end-customer is the ability to obtain extensive information tailored to the client’s investment portfolio.
A tool used by financial institutions to input and manage clients’ data to assure the suitability and appropriateness of transactions that have been requested or recommended.
OFS Advice - Compliance & Suitability Engine meets the needs of financial institutions because it permits:
This module serves as the basis for:
WHO & WHAT
Barclays selected the ObjectWay Financial Suite components - ObjectWay Financial Planning, OFS Advice - Portfolio, and ObjectWay Mifid Adequacy & Appropriateness - to support MiFID compliant advisory services for its “affluent”, “top affluent”, and “private clients”. Barclays uses the ObjectWay Financial Suite in its Italian and Spanish subsidiaries for nearly 1,000 branches. The software has been used in Italy since 2008 and will be introduced in Spain at the end of 2009. Nathalie Couveignes, Marketing Director, Barclays France and head of Barclays University for the Global Premier Banking described ObjectWay as a “scientific and holistic” support of Barclays Premiere business model that is fully compliant with MiFID and explained that the platform would soon be introduced in four other European countries.
The Wealth Management, Private Banking division of Credit Suisse, serves approximately 700,000 high net worth individuals around the world. Credit Suisse Italy’s Personal Bankers and Relationship Managers provide financial, retirement and insurance advisory services in 29 locations throughout Italy.
Credit Suisse Italy uses the full ObjectWay SMIT2 platform - Front, Middle & Back Office – for all aspects of asset management and administration: order input, straight-through processing trading on domestic or international markets; asset management services for private and institutional clients, SWIFT settlements, securities custody, taxation and reporting.
Credit Suisse uses ObjectWay integrated solutions for CRM and MiFID-compliant advisory services.
BofA MERRIL LYNCH
With 20,000 advisors and 2,500 billion in client assets, Bank of America Merrill Lynch is the world’s largest broker.
The Italian branch of Merrill Lynch Global Wealth Management selected to use the entire ObjectWay SMIT2 software product line in its Private Banking business, adopting the ObjectWay front-office and back-office solutions for investment management of clients' safekeeping accounts and discretionary portfolios.
The solution is an integral part of the Bank’s global infrastructure. Introduction of continuous 24-hour availability eliminated business cut-offs and accelerated data updates, thus increasing the accuracy of portfolio information provided by private bankers to their clients.