Wealth Management Platform Strategy Review
Carrying out a strategic wealth management platform review for a high-end management consultancy.
The Pickle
Our client, a professional services management consultancy in the City of London and internationally, was engaged by their end-client to assess the end-client’s current state retail savings and investment platform and operations technology.
The end-client was considering migrating from its current, in-house provider to an external platform and operations supplier.
Both our client and the end-client had a problem in that they lacked the expertise in-house and market knowledge of potential replacement platforms.
Our Move
Measuring
Working with our client and the end-client, we carried out detailed desk-based research of the retail savings and investment supplier marketplace.
We looked in detail for potential suppliers that combined both technology and operations (a like for like replacement for the end-client).
Documenting
Again, working with our client, we took authorial responsibility for the main end-client-facing report full of metrics on the platform market.
We also reported on the various options and combinations available for possible replacement platforms and operating models.
We provided guidance for the end-client on the most effective and cost-efficient ways to decide and deploy the solution.
Deciding
With our client, we presented the findings of the report to the end-client’s Management Board.
This enabled a fully transparent decision to be taken by the Board based on the right metrics and documentation.
The Result
The end-client was very satisfied with the market, technology and operational intelligence in the report.
The end-client used that as a basis for further negotiation with their incumbent supplier.
Eventually, the end-client made an informed decision and moved successfully to a new platform and provider in due course.
Our client itself was retained for further consultancy work with the end-client.