Odyssey Financial Technologies unveils version 5 of industry-leading Private Wealth Management Platform WealthManager™

Deutsch

Francais

Odyssey Financial Technologies, a global provider of front and middle-office software for the Private Banking, Private Wealth Management and Asset Management industries, today launches the latest version of its WealthManager™ product.

“The lines are becoming blurred between offerings to High Net Worth and Mass Affluent private clients,” states Odyssey Financial Technologies' Chairman and CEO, Antoine Duchateau. “Most financial institutions are looking for ways of building a single cost-effective platform that enables them to serve all client segments from Mass Affluent to High Net Worth Individuals and that fully supports the provision of discretionary, advisory and brokerage services. With WealthManager™, Odyssey is the only software vendor that offers a truly comprehensive platform – which significantly simplifies and improves the daily work of professionals and empowers them to better serve their increasingly demanding clients.”

WealthManager™ is a comprehensive, modular and highly scalable Private Wealth Management Platform that combines Client Management, Investment Advice, Portfolio Management, Compliance and Client Reporting functionality, and provides the technology that allows wealth management firms to increase their client service capabilities, reduce costs, and generate additional revenue.

WealthManager™ version 5 (V5.0) is a significant new release that marks an important step for Odyssey in enabling private wealth management firms to equip their client advisors and portfolio managers with state-of-the-art software tools. The latest version incorporates Odyssey’s extensive experience and knowledge from several areas, and considerably increases the product’s functional breadth and depth with two new dedicated modules for performance analysis and order management.

The Performance Analytics module provides an extra level of sophistication to further enable advisors and portfolio managers to evaluate and explain their investment performance. The module features Position and Class-level performance to satisfy clients who complain that a single overall performance figure is insufficient. Financial institutions can therefore differentiate from the competition by offering more sophisticated and transparent performance reporting.

The Order Management module enables advisors to quickly and efficiently create new orders from a single point of entry, test their compliance, send them to market and monitor their execution. The current version supports orders for the following instrument types: equities, fixed income, money market, funds, MBS, rights, warrants, convertible bonds, single-leg options, forex spots and forwards. In addition, there is support for cash and security deposits, withdrawals and inter-account transfer. The module was designed so that wealth management firms can automatically enforce Suitability & Appropriateness across the board. The module provides a single point of entry for multiple instrument orders, considerably increasing the efficiency of order entry, reducing the risk of errors and non-compliance and enabling faster execution.

In addition to these two major new portfolio management modules, and in line with the WealthManager™ tradition of providing focused, industry-specific client management, V5.0 features a new Sales Support module, which tracks opportunities from the smaller, mass-affluent all the way up to large-scale, large-team projects. The Opportunity functionality comes with sales pipeline tracking and reporting via dashboard charts, user-tailored queries and printed reports. There is also a new Campaign feature, which allows for the administration of smaller, advisor-initiated and larger, firm-initiated campaigns where the sales objectives and materials are determined centrally and pushed out to the advisory team. Full metrics are provided to track achievement against targets at the individual advisor level all the way up to the overall performance of the campaign. This new module enables private wealth management firms to increase sales productivity through standardized sales processes and improve time-to-market for launching new products and services.

As well as its wider breadth and depth of functionality, V5.0 also incorporates continued enhancements in terms of usability. Following the advice of its clients, Odyssey has built in many ergonomic improvements, which make the system even easier to use.

Other new features in WealthManager™ V5.0 include:

• Corporate Action Processing: allows the entry of corporate action notices, calculation of entitlements and even the generation of transactions if necessary. Full tax-lot cost processing is included.
• Product Look-Through: calculates accurate asset allocations for portfolios holding balanced mutual funds as well as providing support for structured products.
• Data Change Audit: records changes to any item in the database with full User Interface-based querying of the audit trail.

Duchateau, explains, “We are happy with the successful delivery of WealthManager™ version 5, which marks an important step in Odyssey’s expansion plan. This release represents a significant investment in R&D, which shows that, even in the current difficult market conditions, we continually endeavour to improve our product offering to better respond to our clients' needs. Also, this is the first WealthManager™ release to incorporate significant expertise from Odyssey's highly successful Portfolio Management System Triple'A Plus™.”

About WealthManager™
WealthManager™ is an integrated though modular Private Wealth Management Platform designed to simplify and improve the daily work of professionals who manage & advise individuals’ wealth. Combining Client Management, Investment Advice, Portfolio Management, Compliance and Client Reporting functionality, the product suite enhances all facets of the private wealth management process, is highly scalable, multi-lingual, and multi-currency, and provides the technology that allows firms to increase their client service capabilities, reduce costs, and generate additional revenue. WealthManager™ enables wealth management firms to serve all client segments from Mass Affluent to High Net Worth Individuals and to fully support the provision of discretionary, advisory and brokerage services with a single platform.

Contact