Challenge
Confident’s priority is to provide exceptional service that meets the unique needs of every client, however, when a client wanted to know their current portfolio position and how it was being managed, they would need to contact their relationship manager. A more efficient process was needed to provide Confident’s clients with immediate access to their portfolios, while making the experience as user friendly and intuitive as possible. This required a system that would allow them to access their portfolios anytime, anywhere.
From an internal business perspective, providing clients with their individualised comprehensive portfolio performance reports was a time consuming and admin-intensive process. Confident’s portfolio managers were required to consolidate various reports from multiple custodian banks in order to construct comprehensive reports, all of which took away precious time from being able to focus on the required strategic portfolio investments aligned with client wealth goals.
Additionally, Confident’s existing fee model inhibited its ability to provide its clients with flexible fee structures (tied to its clients’ unique requirements) and limited the firm to make use of a handful of fee structures.
Finally, Confident wanted a mechanism to swiftly align its client portfolios with its investment models for various markets to optimise client wealth. The Confident team believed that Synthesis was the best provider to resolve these challenges and to increase client satisfaction.