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Wealth and Capital Markets Blog's Blog

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We Might Need to Reconcile

June 17, 2017 Comments (0)

Just got back from the FTF Sec Ops Conference in Boston. Front-to-back asset management work flow was the main focus of the conference with some of the largest asset managers represented but also well represented by smaller AuM AMs. It is amazing the range of technology that covers the buy side, from cutting edge fintech to AMs with less cutting edge technology that are still parsing faxes. Don’t get me wrong there is nothing wrong here; remember in business there are never problems...

Liquidity and Collateral: getting the blood to flow again

June 14, 2017 Comments (0)

Cash is a dirty word for some cultures, but not for financial services, on the contrary. But I am not talking about the old images of the stingy bankers holding on to their $ bills or about Scrooge McDuck. Banks, custodians, CCPs, CSDs and exchanges are the financial institutions that enable the exchange of cash for securities, the movement of cash between bank accounts, the securitization of cash, the transformation of cash into collateral. Without these markets players entire economies...

Should Asset Managers Pay for Shelf Space?

May 10, 2017 Comments (0)

Last week a wealth management firm announced it would stop selling Vanguard mutual funds, though clients of the firm can still add money to existing Vanguard investments through 1Q18 and purchase Vanguard ETFs. Like many in the investment industry, my first thought was that this firm did this because Vanguard does not pay for the distribution of its funds (aka “shelf space”).  This week that same firm told InvetmentNews that they decided to stop selling Vanguard mutual funds...

Exploring “Real World Fintech” at the Temenos Community Forum (“TCF”) 2017

May 9, 2017 Comments (0)

I had the honor of attending this year’s Temenos Community Forum (“TCF”) where the theme was “Real World Fintech”.  Throughout the event, we “explored real-world examples of the latest advancements in Fintech, including blockchain, artificial intelligence, virtual reality and advanced data and analytics”.  The conference was meticulously organised and executed across three days for over 1,200 attendees. My experience most notably...

The Surging Appetite for Cloud-Based Services

May 3, 2017 Comments (0)

I recently wrote an article for Capital Markets CIO Outlook that incorporates my thinking on the transition from one architecture to another in capital markets. I have the benefit of some of the great thinking of our analyst team on cloud, emerging technologies, and DLT. While the end-state is unclear, directionally more and more capital markets firms are moving to cloud-based infrastructure, BPO, and IT outsourcing. CIOs take note: I encourage you to, as much as possible, look outside...

Re-tweets, Re-posts and Likes are Subject to FINRA’s Digital Communication Rules

May 3, 2017 Comments (0)

Finra recently released their third regulatory notice around social media and digital communications.  The notice “provides guidance regarding the application of FINRA rules governing communications with the public to digital communications, in light of emerging technologies and communications innovations.” A couple of the Q&A responses listed in the latest regulation notice are particularly interesting to me.  The first two listed below explain that if an advisor...

The DoL Fiduciary Rule: A State of Confusion

May 2, 2017 Comments (0)

A month ago, on April 4, 2017, less than a week prior to the scheduled implementation date for the first phase of Department of Labor (DoL) Fiduciary Rule to go into effect, the DoL filed to delay the regulation by 60 days.  Therefore, as of now, the DoL Fiduciary Rule is scheduled to go into effect June 9, 2017. The DoL has also said that all requirements except for the Impartial Conduct Standards will be deferred until January 1, 2018. Simultaneously, the DoL is undertaking a review...

Celent’s Innovation and Insight Day: Wealth and Asset Management Stream

March 20, 2017 Comments (0)

We are only weeks away from Celent's 2017 Innovation and Insight Day where we will explore how players in the financial services market are leveraging technology in innovative ways in order to differentiate themselves in an increasingly competitive and challenging marketplace. We will be featuring a number of case studies, discussions, and deep-dives into topic areas surrounding innovation and focusing on themes, such as: Customer Experience Products Emerging Innovation...

Wealth and Asset Management Converges on Celent’s Annual Innovation and Insight Day

March 12, 2017 Comments (0)

This will be the first year that Wealth and Asset Management (WAM) will have its own stream at Celent’s annual Innovation and Insight (I&I) Day. Traditionally, I&I Day has been focused on insurance and banking, and is an opportunity for insurers and banks to demonstrate innovative projects with the chance to be recognized for outstanding capabilities. Typically, each insurer or bank begins preparing months in advance by submitting their case for how they have exceled in a...

The Virtual Agent: NLP in Wealth Management

March 8, 2017 Comments (0)

NLP has many use cases in consumer banking and is gaining adoption in wealth management. In my report, The Virtual Agent: Natural Language Processing in Wealth Management, I look at some of the more popular use cases for NLP, including for chatbots/virtual assistants and biometric identification, as well as the more cutting-edge applications, like for advisor matching and more complex virtual assistant processes. IPSoft and Personetics are two vendors making huge strides in the field of...