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Fiserv updates Unified Wealth Platform

Customization improvements and new rep-as-portfolio-manger interface added

By Davis Janowski

Oct 18, 2012 @ 3:58 pm (Updated 4:05 pm) EST

Fiserv Inc. yesterday announced several enhancements to its Unified Wealth Platform.

They ascribe the need for this to growth in the rep as portfolio manager programs space as well as demand among advisers with discretionary control over client assets.

Among the improvements: new options for customizing graphical presentation of data and a new user interface for Fiserv's rep as portfolio manager offering.

That interface has been given some new tax harvesting tools, dashboards, and “single-click” access to account details and trading.

The Model Management component on Fiserv's platform has also been tweaked, allowing for it to serve as a repository for all a firm's rep-as-portfolio-manager investment models.

That means Fiserv clients will now be able to access all their various managed account models from one place.

This goes beyond just rep as portfolio manager models but also includes exchange traded funds, unified managed accounts, mutual fund advisory and separately managed accounts.

For those wondering about its overall structure, the prepared statement discusses how everything on the Unified Wealth Platform has been integrated, including front-, middle- and back-office wealth management technology.

The three main components of the platform are the front-end Financial Advice Management piece, middle-office Portfolio Management & Trading and backend Performance & Investor Reporting portion.

All of which can be used together by a large enterprise or as individual components.

To provide you a sense of scale: The Unified Wealth Platform has more than 3.7 million accounts and over 1.3 million UMA sleeves according to Fiserv.

By way of background, the firm acquired data aggregator CashEdge and financial planning technology provider AdviceAmerica in recent years.

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