The financial advisory services in the implementation of the MiFID Directive have opened a very profitable business sector which, however, requires significant actions in the technological-application infrastructure.
The implementation of a new consulting model does not, in fact, eliminate the need for a proper reconsideration of the relationship with the client and the technological tools that support it.
The technological tools for consulting services must now respond in a consistent and appropriate way to market needs, the organizational system and the infrastructure of the bank providing the service and not least to the reference standards. In addition, in order for the advisory model to be effectively attractive to the client it is vital that it be characterized by a high level of customization. On this essential assumption, the bank must necessarily adopt cutting edge operational tools for the management of the client relationship that ensure, among other things, configuration flexibility, comprehensiveness in the information made available, simplicity and ease of use and management. These are advanced technologies capable of contextually supporting the different organizational models chosen at the central level: the advisory center with a strong approach to standardization of the portfolios proposed by the reference model, the private banker in his role as manager of the direct relationship with maximum freedom of action in the tools he can offer, or the research department able to provide tools really tailored for each client.
In essence, they are now necessary tools that make it possible to standardize products and profiling, but also to tailor advice for the client.
These are the requirements of the relationship tool. The real challenge is to allow these objects to be fully compatible and integrated with the “traditional” bank infrastructure without influencing it or being influenced by it.
Armundia has responded to this challenge with platforms that support the entire advisory process.
In accordance with the MiFID, Armundia Wealth Shaper enables the management of the Advisory deposits, ensuring efficiency with specific functions for tracking contacts and proposals.