Solve integration challenges with better design and better data. Learn how from the second video of our three-part series “Maximizing the Power of UMAs.”
Integrating with Existing System
Where traditional UMAs fall down:
No matter how compelling the insights and capabilities a solution promises are, the ultimate value delivered is only as good as its ability to integrate with existing systems and data structures. Plenty of providers in the bank space promote solutions that ultimately require too much maintenance and offer clumsy integration.
Advisors and trust officers spend too much time logging into different systems for different tasks. All these extra steps threaten data harmony and take time away from developing client relationships. At the organizational reporting level, any UMA data should be integrated with other investment applications and reporting platforms.
This focus on integration ultimately comes down to consistency for the client. Client-facing transitions between one investment application and another should appear seamless with a focus on efficiency in the back end. Clients expect asset classifications, names and descriptions to match how investments were marketed, and market value must be consistent across reports to ensure trusted and verifiable performance results.
Where InvestEdge’s UMA stands up:
InvestEdge UMA solves integration challenges through better design and better data. The tools aggregates data form the trust system and other providers and supports the trading, compliance, and reporting and other needs of the UMA accounts. The InvestEdge UMA approach allows the advisor to manage UMA accounts and traditional investment accounts in a consistent manner so that account structure is not driving the investment process.
The result is a win for the firm in facilitating a seamless experience for the advisor and the end client. Workflows are driven by creating new value, and reporting provides clear, defined insights with a better user experience. The solution makes it easy to create a system that integrates and adapts to people’s needs, not the other way around.