The latest technology news in the wealth management sector from around the world.

PCR, FINARTIS
Private Client Resources, which provides total wealth data aggregation services to family offices, institutions and ultra-high net worth clients, has partnered with Switzerland’s FINARTIS, an investment and risk reporting business. The move ramps up US-based PCR’s push into Europe.

The firms will deliver digital portfolio lifecycle management from enrollment, aggregation, to reconciliation, management, accounting, and reporting. 

The solutions will be designed to cover clients with multi-asset and multi-currency requirements. 

Automating how information is consolidated from the complex holdings of UHNW investors has challenged banks, advisors and family offices for years. This is particular serious because half of UHNW holdings are often in illiquid areas such as property and private equity. 

“We believe FINARTIS has a differentiated approach of delivering a holistic data-driven experience that helps bankers and investors significantly improve their vision of their investments and risks within their portfolios,” Robert Miller, PCR chief executive, said.

Jean-Luc Freymond, founder and CEO of FINARTIS, added: “Many firms and institutions today are struggling with aggregating disparate investment data and producing comprehensive and meaningful reporting, forecasts, and analysis for their entire investment portfolio of liquid and alternative investments. We are excited about closing this significant gap that exists in the marketplace by collaborating to roll out this compelling offering and to enter the US market with a mature platform built on years of Swiss banking knowledge.”
 

TradingFront
Registered investment advisor tech firm TradingFront has launched a white-label advisor platform, working with Interactive Brokers, tapping into trends such as wealth industry consolidation and rising regulatory and technology demands. 

TradingFront will use its RIA industry connections and technology know-how to launch a platform that meshes with Interactive Brokers' execution, trading infrastructure and custodial capacities.

"We see the challenges and business disruption issues occurring for RIAs from the looming custodian consolidation in the industry, along with mounting complexity and costs of technology integration," Yang Xu, founder of TradingFront, said. 

TradingFront said “large numbers of advisors are growing dissatisfied with their options and are looking for a secure, low-cost technology alternative, as custodians increasingly ramp up costs and new pricing schemes to make up for the lack of cash interest and commission revenues”.

The firm said that its platform suits breakaway teams of advisors forming small- and mid-sized RIAs. Platform offerings include digital client onboarding, white-labeling, CRM, customizable questionnaires, streamlined rebalancing, compliance features, performance reporting, data aggregation, advisor and client portals and a mobile app.