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Fiserv [NASDAQ: FISV]: A Holistic Approach to Wealth Management

CIO VendorJeffery Yabuki, CEO There is an industry-wide accord among members of the investment realm that in order to yield high returns from a wealth management portfolio, there should be unparalleled transparency of cash flow. Jeffery Yabuki, CEO of Fiserv [NASDAQ:FISV], concurs with the fact; he says that an investment is in good hands if the Registered Investment Advisor (RIA) or the associated firm is capable of collecting and curating information from all the meetings held between the client and the advisory party to provide a concise and singular view of the diverse data, which includes financial planning and investment management. However, it is daunting for financial advisors to iterate the data-gathering process and keep it up to date, given the fluctuating nature of a client’s financial status. This is where Wisconsin-based Fiserv is able to imprint its significance in the wealth management industry. By bringing aboard a Unified Wealth Platform, Fiserv offers companies a single view of assets and liabilities, thereby integrating all workflows and operations together.

"Through our managed-account framework—where professional financial advisors ‘manage’ the investment accounts— we help the firms comply with the new fiduciary ruling"

Established in 1984, Fiserv has evolved into a financial services technology leader, catering to a global clientele that includes banks, investment advisers, securities broker dealers, leasing and finance companies, and retailers. Moving with a rapid market momentum under the helmsmanship of Yabuki, Fiserv, today, has a comprehensive lineup of wealth management solutions to help firms and investors track and trace their investments, and make well-informed decisions.

Leading the Innovation Curve

Fiserv’s end-to-end wealth management solution is designed to eliminate inefficiencies from advisor practices by streamlining the delivery of planning, investment transactions, and ongoing portfolio management.

Fiserv’s end-to-end wealth management solution is designed to eliminate inefficiencies from advisor practices by streamlining the delivery of planning, investment transactions, and ongoing portfolio management

Furthermore, the Unified Wealth Platform enables greater operational scalability, which saves time for its advisors, allowing them to do what they do best—provide focused guidance to help clients achieve their goals.

Wealth management firms today—most of which are investor firms—covet simplicity and transparency in their consolidated management of household assets, liabilities, and financial processes. Fiserv is one of the few providers that owns and integrates front-, middle-, and back-office technology to help financial companies attain transparency.

Moreover, the present-day financial industry is going through numerous changes in the way it serves investors. For instance, with the Department of Labor (DOL) Fiduciary Rule now becoming official, the mood in the wealth management industry has turned from anticipation and uncertainty, to focusing on how best to comply. “We have the answer to these concerns as well,” Yabuki mentions. “Through our managed-account framework—where professional financial advisors ‘manage’ the investment accounts—we help the firms comply with the new fiduciary ruling.”

Keeping Pace with Rapidly Evolving Technologies

In Fiserv’s pursuit to improve cash flow, efficiency, and client service, the company offers advanced and comprehensive revenue management solutions. Across the entire continuum of the financial services realm, the growing complexity of investment solutions and client relationships has led to widespread change in billing requirements. With that, increased globalization and a vast range of products and services have placed additional strain on organizations to achieve operational excellence. These changing facades have led financial firms to demand automated, accurate, and timely invoicing. At the core of Fiserv’s Unified Wealth Platform is a cutting-edge billing service to tackle these challenges and eliminate the need for manual processes that most businesses presently rely upon. The flexible fee billing solution allows firms to manage the new generation of fee and account structures, preventing any kind of revenue leakage.
Alongside, Yabuki also notes, “The need for financial planning and advice has never been greater in the industry.” The call to address complex compliance requirements, coupled with a desire to incorporate customized advice models, has led many financial institutions to build their own elaborate planning systems to suit their specific needs, but it often comes at a very high cost. “We are acutely aware of the growing demand for investment professionals to deliver expert advice to their clients,” says Yabuki. Fiserv, therefore, offers a powerful financial planning tool—AdvisorVision—within its Unified Wealth Platform portfolio which allows investment professionals to deliver higher quality financial advice and create customized financial plans for customers.

Another breakthrough tool provided by Fiserv is the Retirement Illustrator that shows a clear view of a client’s financial standing— today and throughout retirement—by forecasting and analyzing their full financial picture, including assets, income, expenses, liabilities, and insurance. “Missing from most retirement planning tools is the ability to tell a compelling story of how a firm’s products can transform a customer’s situation for the better,” asserts Yabuki. Addressing this is the cornerstone of Retirement Illustrator—a powerful way for financial professionals to demonstrate how annuities, life insurance, and long-term care can improve a customer’s financial outlook. With interactive customer sessions, this tool can build a plan of action that captures a dynamic analysis, using which financial companies can create a holistic financial picture for their customers.

While providing outstanding technology solutions for the financial world, Fiserv also enables the managed accounts industry to connect to its vast array of data through a large network of sponsor, manager, and custodial connections, resulting in increased efficiency and productivity. For instance, Asset Manager Connect on Fiserv’s wealth management network simplifies connectivity between asset managers and managed account sponsors for streamlined workflow. “This robust network includes access to eight of the top 10 sponsors in the industry,” adds Yabuki. Alongside, the company also boasts the industry’s first and most comprehensive investment model communication infrastructure—Model Information Exchange. “In a nutshell, this extensive network with standardized real-time access helps financial players to grow revenue volumes and improve client base,” summarizes Yabuki.

With three decades worth of financial industry expertise, today, Fiserv has clearly positioned itself at the apex of the innovation curve. Observing this sustained rise of the company, Yabuki is confident that their rich legacy in the financial services industry and appetite for innovation will continue to remain driving forces behind their success in the wealth management marketscape.