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Wealth Management

Challenges you may be facing

With changing customer needs and an increasing demand for customized financial consulting, wealth management firms need much more than just an efficient portfolio management tool. Customer experience is of utmost significance and requires robust technology platforms and infrastructure, together with financial planning software that ensures a unified customer view. These firms also need robust financial performance software and financial data models that meet global standards and processes.

There are two distinct models available for wealth managers:

  1. A platform-based delivery model, where financial planning consultants and clients could collaborate to identify the best suited products as per the financial plan. Platform providers will need to employ sophisticated technologies to cater to scale and expected functionalities.
  2. Unique customer needs such as philanthropy, trusts, and investments in real estate, wine and the arts. Here, systems should be capable of handling these transactions and providing full investment lifecycle support. By outsourcing middle- and back-office operations, firms not only get best-in-class service but also become more agile through reducing a large chunk of their fixed costs.

Apart from advisory models, firms could make huge investments in CRM and reporting tools to better understand and retain their clients. Managing risk for clients and taking positive action to handle risks will become an important function.  

What we can do for you

HCL has decade-long partnerships with wealth management firms across the globe, together with whom we provide services and solutions for the entire wealth management life cycle across customer acquisition, profiling, financial planning, portfolio management, financial performance monitoring and portfolio rebalancing, asset servicing, risk and compliance management, reporting and financial data warehousing.

We provide consulting services across business strategy, process re-engineering, compliance and risk evaluation, and platform blue-printing. Clients leverage our domain experience to reduce time to market through domain driven independent testing services.

Why should you consider HCL?

  • Over 6 years of relationship with a Global Wealth Manager (among the top 10 in the world), serving the HNI and UHNI segments,  managing significant portions of the applications landscape for their Geneva, and Singapore businesses
  • Currently managing the end-to-end application portfolio for the entire U.S. business (brokerage and advisory sub-divisions) for a leading Global Wealth Manager
  • Over 12 years engagement with an Australian Wealth Manager, enabling cumulative savings of over $60 million
  • Extensive experience in WRAP solutions in the Australia and UK markets
  • HCL’s Insurance Business Services (erstwhile Liberata Financial Services), a FSA regulated entity, provides Investment Accounting services
  • Extensive experience in handling regulatory changes; for a customer, we completely revamped the financial and investment planning application used by 10,000 advisors and 3,000,000 clients in the area of MiFID compliance
  • Experience in the implementation and support of Anti Money Laundering solutions like SMARAGD, Norkom and SearchSpace
  • Implemented a Collateral Reporting and Monitoring portal for high net worth customers, helping the Bank  efficiently assess a customer’s exposure to risk
  • Vast experience in platform integration and modernization for the top platform based UK wealth manager
  • We have an in-house data masking tool to comply with special data secrecy needs of offshore banking centers in Switzerland and Luxembourg
  • Our partnership with SAGE Prospero and NorthStar enables us provide end-to-end Wealth Management solutions for customers 
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HCL Wealth Management Business Services
HCL Wealth Management Business Services

Case Studies

HCL BPO’s Banking and Finance Services Industry’s wealth management case study
HCL BPO’s Banking and Finance Services Industry’s wealth management case study
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What Customers Say

“Throughout this project HCL was responsive and adaptable to the various changes that occurred, while remaining focused and productive. Additionally, HCL has a sharp understanding of our business processes and technology environment, which has offered us the added benefit of not disrupting our own staff during this important integration.“

- CIO, New Jersey based P&C carrier

We are pleased with HCL’s implementation approach in a global delivery model leveraging the proposed solution accelerators in areas of data conversion, integration and reporting related to claims.”

- CIO, A Leading Mutual Insurer in US