FIS Enhances Wealth Management Offerings with Advanced Digital Advice Solution
June 08 2017 - 8:30AM
Business Wire
Key facts
- Solution leverages robo-advisory and
automation technology from Trizic to enhance financial planning and
advice services
- Enables financial institutions and advisors to more effectively
manage mass affluent clients and attract tech-savvy
millennials
FIS™ (NYSE:FIS), a global leader in financial services
technology, has enhanced its end-to-end suite of wealth management
offerings with an advanced digital advice solution designed to help
financial institutions and wealth advisors better serve their
customers, grow their business and improve profitability.
The new solution uses robo-advisory and automation technology
from Trizic to enable FIS clients to more cost-effectively manage
smaller-balance accounts, attract tech-savvy millennials, and serve
high-net-worth clients looking for access to sophisticated
investment models through digital advice.
Offered as part of the FIS wealth management platform, the
digital advice solution automates the full advisor workflow from
onboarding and risk tolerance to portfolio construction, reporting
and billing. The digital advice solution also provides financial
institutions without a wealth division an opportunity to drive new
revenue with a complete digital advice solution. Firms can select a
technology-only option that can be integrated with existing systems
and workflows or a complete robo-advisory solution, including model
management and custody from FIS.
“As our clients look for new ways to better service investors
and help them achieve their financial goals, while profitably
growing their business, the ability to offer capabilities at all
points across the wealth continuum is essential,” said Mike
Rogalski, head of Wealth and Retirement for FIS. “Extending FIS’
wealth platform to include turnkey digital advice allows financial
institutions to cost effectively deliver robust, high-quality
wealth advisory services to nearly any customer.”
“Wealth managers are looking for new ways to use technology to
grow their business and better attract and serve a full range of
clients,” commented Trizic CEO Drew Sievers. “We look forward to
working with FIS, a leader in providing integrated solutions to the
wealth industry, to offer this breakthrough digital capability to
their clients.”
The digital advice solution is multi-custodial and integrates
with FIS trust and core systems, making it easy for a financial
institution to convert smaller balance accounts into fully managed
accounts as balances grow. The robo-advisory capability can run
independently or as part of an advisor-supported solution,
depending upon the firm’s needs.
“Wealth managers at every type of institution are struggling to
attract the lower balance, emerging wealth from millennials,” said
Will Trout, senior analyst, Celent. “Existing people-powered
solutions are great for higher-end clients, but some form of
automation is required to cost-effectively service these
smaller-balance accounts.”
About FIS
FIS is a global leader in financial services technology, with a
focus on retail and institutional banking, payments, asset and
wealth management, risk and compliance, consulting, and outsourcing
solutions. Through the depth and breadth of our solutions
portfolio, global capabilities and domain expertise, FIS serves
more than 20,000 clients in over 130 countries. Headquartered in
Jacksonville, Fla., FIS employs more than 57,000 people worldwide
and holds leadership positions in payment processing, financial
software and banking solutions. Providing software, services and
outsourcing of the technology that empowers the financial world,
FIS is a Fortune 500 company and is a member of Standard &
Poor’s 500® Index. For more information about FIS, visit
www.fisglobal.com.
Follow FIS on Facebook (facebook.com/FIStoday) and Twitter
(@FISGlobal).
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version on businesswire.com: http://www.businesswire.com/news/home/20170608005354/en/
Kim Snider, 904.438.6278Senior Vice PresidentFIS Global
Marketing and Communicationskim.snider@fisglobal.com
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