A Step by Step Approach
Typically the move to a wrap platform is a decision that impacts not just your business strategy but the whole way in which you operate as a firm. We see the selection and adoption of a platform as a journey. This journey involves the following key stages that you may want to consider:
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Proposition - Define what you want to offer your clients:
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What services will you offer now and in the future?
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What services do your clients need?
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How will you provide advice?
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What investment approach will you take (eg, in-house or outsourced to a Discretionary Fund Manager)?
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How much will you charge?
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Client Segmentation - Segment your client bank to ensure the differing needs of each group is met by your chosen wrap platform(s).
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Due Diligence - Now you have defined your proposition and identified your requirements, you can start looking at what is on offer. Due diligence will help you get all the relevant information together and allow you to compare providers.
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Selection - By collating and reviewing all the information through due diligence, you can choose the solution(s) that supports your business strategy and client proposition.
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Implementation - The solution you choose will only work if you implement it well. Make sure you have a proper implementation plan covering preparation, training, launch and roll-out. This will help you and your clients get the most out of the platform.
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Ongoing Management - Regularly review your selection(s) to ensure it still meets your business needs.
To help you determine whether Ascentric is right for your business, please contact us for our Review Document.
For more information please contact us on:
0845 671 8440