IHS Markit, Deloitte, IBM and Finastra also have FinTech developments to report.
Capital Wealth Planning to Deploy Fiserv Platform
Capital Wealth Planning, a registered investment advisor (RIA), will be deploying the Unified Wealth Platform from Fiserv for portfolio accounting and trading in order to supports its growth path.
The firm, based in Naples, Fla., chose the Fiserv to help it “achieve greater productivity and efficiency in our investment management process,” says Kevin G. Simpson, president and founder of Capital Wealth Planning, in a prepared statement. The Fiserv platform will help the firm “develop our technology, execute our investment strategies and better serve our clients.”
The implementation will also mean that the firm will join the Wealth Management Network from Fiserv for industry connectivity, officials say. The firm also chose Fiserv as “a technology partner that could help them stay connected to the wealth management industry and help develop capabilities that would allow the firm to interface to Unified Managed Account (UMA) model delivery platforms,” officials say.
The Unified Wealth Platform will help Capital Wealth Planning support “every part of the investment process with more efficient trading and reconciliation, as well as tools for active portfolio management across multiple managed-account programs and security types, including equities, fixed income, exchange-traded funds and options,” according to Fiserv. The platform provides technology automation across the wealth management process, including financial planning, retirement-income analysis, portfolio management, trading, accounting, portfolio performance and reporting.
Capital Wealth Planning is a fee-only investment advisory firm that has been managing proprietary income-oriented portfolios since 2005, say officials at the firm. It also offers covered call strategies with its ETF Income Portfolio, Enhanced Dividend Portfolio and Covered Call Overlay Service methodologies.
IHS Markit & Deloitte Team Up for MiFID II
Information and analytics vendor, IHS Markit, has formed a strategic alliance with Deloitte to help firms get caught up on MiFID II regulatory requirements
The alliance will provide clients with resource planning via Deloitte and a digital platform, Outreach360 from IHS Markit, that will target MiFID II data standardization, client outreach and counterparty terms of business repapering, officials say.
“As a technology provider, we understand the right mix of dedicated resources, quality data and advanced systems are essential for client outreach and repapering,” says Darren Thomas, managing director and head of counterparty manager at IHS Markit, in a prepared statement.
The Outreach360 platform provides a centralized way to “create, send and track status of regulatory client outreach communications while leveraging the existing network available on Counterparty Manager by IHS Markit,” officials say.
“Financial institutions view MiFID II as a top priority and are investing in large, multi-stream programs to get ahead of changes,” says Hugo Morris, partner for the Deloitte managed risk services practice, in a statement.
New Finastra to Exploit Big Blue’s Cloud
The newly minted Finastra and IBM will be working to explore how they can help customers transform banking operations via the IBM Cloud and Cognitive technologies, officials say.
Finastra was created from Misys and D+H, both owned by private equity firm Vista Equity Partners, which oversaw the merger and rebirth of the two vendors. The “diversified global financial software provider” that resulted was named Finastra. Misys, a London-based provider of banking, trading and securities operations software, and D+H, a Canadian vendor offering lending, payments and financial solutions, announced in March that a merger was underway.
For the new alliance, IBM will bring its technology “into the Finastra open architecture” in an effort to bring innovation to financial services.
In particular, Finastra and IBM will also collaborate on a financial crime and a blockchain/DLT-based offering, officials say. The two will also explore how their combined wares can benefit retail banking.
“We envision using our combined strengths to impact more organizations, from the largest banks to the newest crowdsourcing lender, to help them harness the disruptive power of cloud, cognitive and data,” says David Wilson, vice president, IBM Cloud Business Partners, in a prepared statement.
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