In February, Fiserv spun out its wealth management technology business, which relaunched as Tegra118. With an injection of capital from specialist private equity firm Motive Partners — and more independence to chart its own course — Tegra118 CEO Cheryl Nash is set on designing a preeminent, comprehensive wealth technology platform for the industry. In an interview with InvestmentNews Content Strategy studio,she discussed some of the innovations that lie ahead.
InvestmentNews Content Strategy Studio (INCSS): What can advisors who worked with Fiserv expect to be different— or the same — with Tegra118?
Cheryl Nash: I had led the division at Fiserv, and the management team and core client-facing teams are still in place, so we’ll continue to leverage the experience of our 30-plus year history. We’ve still got great scale and will continue to provide the mission-critical, secure and stable technology our advisors and clients expect to help them manage the complexities of this business.
A key difference is the level of investment in the platform. We’re investing to create an end-to-end platform for clients. We’re also being more collaborative with clients on development and innovation. That’s where Motive Partners has made their mark in the industry, standing out as a true collaborator and co-creator with clients.
INCSS: Tell us what that collaboration might look like.
Cheryl Nash: Motive Partners has created a concept called Motive Labs where they facilitate innovation between the fintech firms they invest in and those firms’ clients. Many industry innovations have sprung from this approach and Tegra118 plans to leverage that expertise. We’re already approaching clients to be part of a lab to think through some futuristic technology services that will deliver growth in the coming years. Our aspiration and plan is to co-create something new—and needed—to advance the advisory industry.
INCSS: What are some new capabilities Tegra118 could launch in the near future?
Cheryl Nash: We’re in an environment where advisors need to be as efficient as possible and where they need to get client information at their fingertips without logging in and out of a bunch of different technology systems. More than ever, they need all their front-, middle- and back-office technology on one integrated platform. We plan to provide that. We won’t have to develop everything ourselves either. We’re looking at M&A and are focused on key products and services we don’t currently offer that would be faster to buy than to build.
A big focus area for us includes APIs. The advisor likes to own the client experience, so we’re concentrating on integration through APIs. We’re also directing our attention on the user experience of the platform, making sure it’s seamless and state-of-the-art. Finally, we see some opportunities to expand our front-office offerings and are looking across the landscape at solutions that might support that … items such as risk analysis tools, retirement and financial planning aids or new client on-boarding features.
INCSS: How did you decide on the company’s new name?
Cheryl Nash: We were very thoughtful about our name — we knew it had to be modern and unexpected. We believe the name represents the next age in wealth and asset management. The first part of our name stands for “integration” — a call out to our integrated seamless platform; and “integrity”— a reference to the integrity of our mission to redefine how people interact with and manage their wealth.
The 118 refers to the number of elements in the periodic table that define the universe. This suggests the totality of our end-to-end solutions that span the entire wealth value chain.
INCSS: Tell us about the new logo.
Cheryl Nash: The logo is a nod to our rich, proud heritage and our stable foundation, renewed by a fresh perspective that deepens our connectivity to our clients and the entire wealth management community. The mark next to our name signifies technological agility, openness and the rapid evolution of life and future growth. When I first saw the logo, I felt like it symbolized DNA. Wealth tech is in our DNA and that made it a strong fit.
INCSS: Is there anything else you want advisors to know about Tegra118?
Cheryl Nash: We want advisors to know we are there as a partner in an era when the industry is undergoing significant change. We’re also living through a crisis right now in which it’s never been more important for advisors to help their clients reach their financial goals. There’s been a lot of market volatility, evolution around digitization and changes in client expectations. Advisors need a technology partner who can be nimble, flexible and open, as rapidly as the changing needs we are all seeing today.
To find out what going independent could mean for you, visit www.tegra118.com
This content is made possible by Tegra118; it is not written by and does not necessarily reflect the views of InvestmentNews' editorial staff.