External Asset Managers (EAMs) handle complex portfolios for high-net-worth individuals and family offices, often needing specialized tools to manage these assets efficiently. With the demand for seamless digital experiences, regulatory compliance, and efficient portfolio management, EAMs increasingly turn to advanced platforms that streamline operations, enhance client engagement, and offer valuable analytical insights. Here’s a comprehensive look at some of the top tools that empower external asset managers to meet their clients’ complex needs.
Client Relationship Management (CRM) Systems
Client relationship management is fundamental for external asset managers. CRM tools designed for wealth management, such as Salesforce Financial Services Cloud and Wealthbox, allow EAMs to organize and track all client interactions, preferences, and histories in one platform. These systems provide a consolidated view of client data, enabling asset managers to personalize interactions, automate follow-ups, and address client needs proactively. By leveraging a CRM, EAMs can improve client satisfaction and strengthen relationships.
Portfolio Management Platforms
Portfolio management tools provide comprehensive portfolio analytics, risk assessment, and performance tracking. These platforms allow external asset managers to analyze client portfolios against benchmarks, perform stress tests, and generate detailed reports. Additionally, some solutions offer tools for rebalancing portfolios in alignment with evolving client goals and market conditions, helping asset managers make data-driven investment decisions.
Data Aggregation and Analytics
Data aggregation tools are also crucial, as you need to have a comprehensive overview of your clients’ investments. Such solutions can automatically consolidate data from bank, investment, and other accounts in real-time, ensuring that you have a detailed, complete overview of all operations.
Financial Planning and Forecasting Tools
Financial planning and forecasting tools are necessary for creating future financial plans. They can also be used to simulate different situations, assess risks, and test multiple scenarios. This is why such solutions are a must for external asset managers.
Risk Management Software
External asset managers also need risk management software to match the risk they undertake with clients’ expectations. This functionality is particularly useful for EAMs working with diverse asset classes, as it helps them mitigate risk and adjust strategies proactively.
What If You Choose a Complex Wealth Management Platform for External Asset Managers Instead?
What If You Choose a Complex Wealth Management Platform for External Asset Managers Instead?
Instead of adopting multiple software solutions, you can choose an all-in-one option—a complex platform for wealth management. Such tools have all the features of the above IT solution compressed into a single interface, enabling you to conduct your operations quickly and effectively.
In the end, we believe that this is a much better option than investing in a large tech stack. Not only is it easier to use, but it is also less expensive and… simpler to implement. After all, with multiple solutions, you need to worry about their compatibility with each other, and with a single platform, this is no longer a problem. A unified platform reduces the learning curve for staff, enhances productivity by integrating all operations in one place, and provides centralized support for troubleshooting. Therefore, we recommend investing in a single, powerful solution for external asset managers rather than in tens of different programs. By consolidating your tools, you streamline workflows, reduce overhead, and can focus more on delivering high-quality services to your clients.
External Asset Managers (EAMs) handle complex portfolios for high-net-worth individuals and family offices, often needing specialized tools to manage these assets efficiently. With the demand for seamless digital experiences, regulatory compliance, and efficient portfolio management, EAMs increasingly turn to advanced platforms that streamline operations, enhance client engagement, and offer valuable analytical insights. Here’s a comprehensive look at some of the top tools that empower external asset managers to meet their clients’ complex needs.
Client Relationship Management (CRM) Systems
Client relationship management is fundamental for external asset managers. CRM tools designed for wealth management, such as Salesforce Financial Services Cloud and Wealthbox, allow EAMs to organize and track all client interactions, preferences, and histories in one platform. These systems provide a consolidated view of client data, enabling asset managers to personalize interactions, automate follow-ups, and address client needs proactively. By leveraging a CRM, EAMs can improve client satisfaction and strengthen relationships.
Portfolio Management Platforms
Portfolio management tools provide comprehensive portfolio analytics, risk assessment, and performance tracking. These platforms allow external asset managers to analyze client portfolios against benchmarks, perform stress tests, and generate detailed reports. Additionally, some solutions offer tools for rebalancing portfolios in alignment with evolving client goals and market conditions, helping asset managers make data-driven investment decisions.
Data Aggregation and Analytics
Data aggregation tools are also crucial, as you need to have a comprehensive overview of your clients’ investments. Such solutions can automatically consolidate data from bank, investment, and other accounts in real-time, ensuring that you have a detailed, complete overview of all operations.
Financial Planning and Forecasting Tools
Financial planning and forecasting tools are necessary for creating future financial plans. They can also be used to simulate different situations, assess risks, and test multiple scenarios. This is why such solutions are a must for external asset managers.
Risk Management Software
External asset managers also need risk management software to match the risk they undertake with clients’ expectations.
This functionality is particularly useful for EAMs working with diverse asset classes, as it helps them mitigate risk and adjust strategies proactively.
What If You Choose a Complex Wealth Management Platform for External Asset Managers Instead?
What If You Choose a Complex Wealth Management Platform for External Asset Managers Instead?
Instead of adopting multiple software solutions, you can choose an all-in-one option—a complex platform for wealth management. Such tools have all the features of the above IT solution compressed into a single interface, enabling you to conduct your operations quickly and effectively.
In the end, we believe that this is a much better option than investing in a large tech stack. Not only is it easier to use, but it is also less expensive and… simpler to implement. After all, with multiple solutions, you need to worry about their compatibility with each other, and with a single platform, this is no longer a problem. A unified platform reduces the learning curve for staff, enhances productivity by integrating all operations in one place, and provides centralized support for troubleshooting. Therefore, we recommend investing in a single, powerful solution for external asset managers rather than in tens of different programs. By consolidating your tools, you streamline workflows, reduce overhead, and can focus more on delivering high-quality services to your clients.
