There are a lot of "pain points" for advisors, and services for them are often poorly integrated. Saxo argues that its offering can handle these problems.

Saxo Bank, the Copenhagen-based group, has launched a digital advisory solution to support self-directed, advisory and discretionary business models in the wealth sector.

The offering, called SaxoPartnerConnect, was launched at the Singapore Fintech Festival.

"We are fully committed to helping our partners realise that for their businesses, SaxoPartnerConnect is designed with these partners’ pain points in mind. It offers a comprehensive digital one-stop solution that helps advisors achieve scalability whilst reducing costs and complexities,” Adam Reynolds, Asia-Pacific chief executive at Saxo, said in a statement.

“An Accenture study noted that delivering a true advisory proposition that is goals-led, holistic, and digital-first but integrated with financial advisors will be crucial for future competitiveness,” Reynolds added.

The firm said the most common pain points for wealth managers in terms of the tools available to them to support their business model include scalability, regulatory requirements, non-scalable and expensive legacy tech stack. Surrounding services, such as reporting, corporate actions, execution and settlement, and market data, are “rarely well integrated,” the firm said. 

“The massive operational efficiency we offer with SaxoPartnerConnect means wealth managers can now handle more clients while not compromising quality and remaining compliant to regulatory needs,” Ivan Chang, APAC head of Saxo Institutional, said.