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- Wealth Management Platform
- Who it's for
- Independent advisory practices
Independent advisory practices
An independent practice has a few advisors, a small operations team and clients who expect quick, accurate action. Advisors raise money movements and trades; someone else checks them before they go out. The practice relies on a custodian and a handful of fund administrators and needs to show who approved what.
How Wealth Management Platform is set up for you
Four-eyes on every instruction
Name a reviewer for each advisor so nobody approves their own client's instruction.
Approved counterparties
Keep the custodian, fund administrators and regular payees on one list with eligibility notes.
Month-end snapshots
Load custodian positions and approve a snapshot for each household before client reviews.
Mandates on file
Attach the client mandate and signed forms to each instruction.
An independent practice has a few advisors, a small operations team and clients who expect quick, accurate action. Advisors raise money movements and trades; someone else checks them before they go out. The practice relies on a custodian and a handful of fund administrators and needs to show who approved what.
Start with one advisor's client book. Load counterparties, instruments, custodian accounts and open instructions. Route new instructions through review and verify evidence for each one. Reconcile one month-end for those households before bringing on the other advisors.
[Plan the rollout](/wealth-management-platform/implementation), [review the modules](/wealth-management-platform#modules), and [compare the source data](/wealth-management-platform/data-model).
Features to start with
Client Instructions
Raise each client instruction with its amount, instrument and counterparty, and follow it to confirmation.
Independent Review
Record an independent decision to approve, reject or return the exact version of each instruction.
Trading Orders
Draft buy and sell orders for custodian accounts, authorize them and record executions from custodian evidence.
Roles on the team
- Wealth Advisor
- Raises client instructions and trading orders, keeps the client mandate on file and owns each instruction to confirmation.
- Compliance Reviewer
- Independently reviews each submitted instruction version and records the decision to approve, reject or return it.
- Operations Analyst
- Submits authorized instructions to the provider, verifies execution evidence, approves portfolio reconciliations and resolves operation exceptions.
- Portfolio Accountant
- Loads custodian position snapshots and prepares household portfolio snapshots for reconciliation.
Set up Wealth Management Platform your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.