Financial Advisory for High Net Worth Individuals
Due to a lack of effective system options available on the market, Hewitson & Kontominas Financial Advisors (H&K) had developed internally, over a number of years, their own Microsoft Access Database Management System used to maintain client investment portfolios.
New features over time were “bolted on” and the system was never developed according to correct and stringent development protocols. This, coupled with data capacity issues as the volumes of data grew, resulted in the system failing in certain areas. Client portfolio reports as an example could take up to an hour to run. A more robust and futureproof technology platform was required.
The management of high net worth portfolios is an administrative intensive business relying on an effective back office administration system, incorporating current - and historical market data.
iScrip was employed to translate the existing system onto a new technology platform and “future proof” H&K operations. Beyond building robustness and scalability into the system, H&K wanted to use the development opportunity to start a fresh and incorporate new features to add value for clients that would see them further separate themselves from the competition.
H&K’s perspective was that the core issue in reporting in the financial services industry is the distinct lack of an accurate representation of an Internal Rate of Return (IRR). Most systems simply record a starting value and an end value to produce a simple return. In order to truly represent a client’s return on investment a cash flow weighted return needs to be calculated which takes into consideration movement’s between the start of the investments and the reporting date. In order to do this a full transactional history across all investments needs to be maintained.
Number of transactions Processed
iScrip Team members on the Project
Years of cooperation with iScrip
