Features in Client Reporting Systems
for Wealth Management
Platforms that generate personalized reports and statements for wealth management clients.
We ask vendors to mark their product against our feature list. It is not available for all products and in some cases we have derived data from publicly available sources. The list of features follows. Vendors can add a further 10 key features of their own.
Analytics & Business Intelligence
Advanced analytical capabilities beyond basic reporting
- AI-powered insights
- Artificial intelligence features that identify patterns and opportunities
- Advisor productivity metrics
- Analytics on advisor activities, client engagement, and outcomes
- Analytical processing speed
- Time to run complex analytical calculations across client base
- Business intelligence integration
- Integration with external BI tools like Tableau or Power BI
- Client behavior analytics
- Tools to analyze client interactions with reports and portals
- Client segmentation analytics
- Analytics tools to identify and analyze client segments
- Custom dashboard creation
- Ability to create personalized dashboards with key metrics
- Data visualization capabilities
- Advanced tools for visual representation of complex data
- Fee analysis tools
- Analytics to evaluate fee structures and profitability
- Natural language processing
- Ability to generate narrative insights and explanations automatically
- Predictive analytics
- Tools that use historical data to predict future portfolio outcomes
- Report usage analytics
- Metrics on which reports are being used and by whom
- Revenue analytics
- Tools to analyze revenue generation across client segments
Client Experience & Delivery
Features that enhance how clients interact with and receive their reports
- Accessibility compliance
- Adherence to accessibility standards for clients with disabilities
- Client communication tools
- Features facilitating secure messaging or document sharing between clients and advisors
- Client feedback mechanisms
- Tools allowing clients to provide feedback or ask questions about their reports
- Client onboarding time
- Time required to set up a new client in the reporting system
- Client portal
- Secure online portal where clients can access their reports and portfolio information
- Digital signature capability
- Tools for clients to digitally sign documents when required
- Document archiving
- Secure storage of historical reports for client access
- Interactive reports
- Dynamic reports allowing clients to explore data, adjust parameters, and drill down into details
- Mobile access
- Mobile application or responsive design allowing clients to view reports on smartphones and tablets
- Multi-language support
- Ability to generate reports in different languages for international clients
- Notification system
- Automated alerts and notifications for report availability or important portfolio events
- Scheduling flexibility
- Options for customizing the frequency and timing of automated report delivery
- White-labeling capabilities
- Ability to customize the look and feel of reports with firm branding and design elements
Compliance & Regulatory Features
Capabilities supporting regulatory compliance and risk management
- Approval workflows
- Configurable approval processes before reports are released to clients
- Audit trails
- Comprehensive logging of all system activities and changes
- Compliance monitoring
- Automated monitoring of portfolio activities against compliance rules
- Data privacy controls
- Features ensuring client data privacy and protection
- GIPS compliance
- Support for Global Investment Performance Standards reporting requirements
- MiFID II compatibility
- Features supporting Markets in Financial Instruments Directive II requirements
- Multi-jurisdiction support
- Ability to handle reporting requirements across different regulatory jurisdictions
- Regulatory disclosure management
- Tools to manage required disclosures in client communications
- Regulatory reporting templates
- Pre-built reporting templates that satisfy specific regulatory requirements
- Regulatory update frequency
- How often the system is updated to reflect changing regulations
- SEC/FINRA compliance features
- Tools supporting compliance with SEC and FINRA requirements
- Version control
- Tracking of report versions to maintain record of changes
Customization & Flexibility
The system's ability to be tailored to specific business needs and client requirements
- Client segmentation
- Tools to segment clients and customize reporting approaches for different client types
- Configuration options
- Number of configurable parameters available in the system
- Custom benchmark creation
- Tools to create blended or custom benchmarks for performance comparison
- Custom calculation capabilities
- Ability to create and implement custom performance metrics or calculations
- Custom taxonomies
- Flexibility to create custom asset classifications or categorization frameworks
- Household reporting
- Ability to aggregate and report on multiple accounts as a household unit
- Report design customization
- Extent to which report layouts, content, and appearance can be customized
- Report distribution rules
- Ability to create custom rules for report distribution based on client preferences
- Reporting frequency options
- Flexibility in setting different reporting schedules (daily, monthly, quarterly)
- User permission customization
- Granular control over what different user roles can view or modify
- User-defined fields
- Ability to add custom data fields specific to the firm's requirements
- Workflow customization
- Options to customize reporting workflows and approval processes
Data Integration & Management
Capabilities related to the system's ability to integrate with and manage data from multiple sources
- API connectivity
- Availability of APIs for integration with other systems and data sources
- Alternative investment data handling
- Capacity to incorporate data from non-traditional assets like private equity, real estate, or collectibles
- CRM integration
- Capability to integrate with customer relationship management systems
- Data export options
- Ability to export data in various formats (CSV, Excel, PDF, etc.)
- Data quality monitoring
- Tools to monitor and flag data anomalies or inconsistencies
- Data reconciliation automation
- Automated processes to reconcile data discrepancies across different sources
- Data refresh frequency
- How often portfolio and market data is updated in the system
- Data visualization tools
- Tools to visualize complex data relationships and patterns
- Historical data storage
- Volume of historical transaction and performance data the system can store
- Manual data entry capabilities
- Ability to manually input data for assets or transactions not available through automated feeds
- Market data feeds
- Integration with market data providers for pricing, reference data, and market indices
- Multi-custodian integration
- Ability to aggregate portfolio data from multiple custodians and financial institutions
Implementation & Support
Services and capabilities around system implementation and ongoing support
- Customization services
- Professional services available for system customization
- Data migration services
- Support for migrating data from legacy systems
- Implementation methodology
- Structured approach to system implementation and configuration
- Implementation timeframe
- Typical time required for full system implementation
- Release frequency
- How often new features and updates are released
- Sandbox environment
- Availability of test environments for training and testing
- Service level agreement
- Formal agreement defining expected service levels and penalties
- Support availability
- Hours during which technical support is available
- Support response time
- Average time to respond to support requests
- Training programs
- Availability and quality of user training programs
- User community
- Active user community for knowledge sharing and best practices
- User documentation
- Comprehensive documentation for system users and administrators
Performance & Scalability
System capacity and performance characteristics
- Batch processing capability
- Ability to generate multiple reports simultaneously in batch mode
- Concurrent user capacity
- Maximum number of users who can access the system simultaneously
- Data processing volume
- Volume of transaction data the system can process daily
- Database size capacity
- Maximum database size the system can efficiently manage
- Horizontal scaling capability
- Ability to add capacity by adding more servers or nodes
- Maximum client capacity
- Number of client accounts the system can manage effectively
- Maximum portfolio size
- Largest portfolio (by number of positions) the system can efficiently handle
- Peak load handling
- System performance during high-volume periods such as quarter-end reporting
- Performance monitoring tools
- Built-in tools to monitor system performance and identify bottlenecks
- Report generation time
- Average time to generate standard client reports
- Response time under load
- System responsiveness during peak usage periods
- System uptime guarantee
- Promised system availability percentage
Reporting Capabilities
Core reporting functionality that enables wealth managers to generate comprehensive and insightful client reports
- Asset allocation visualization
- Graphical representation of client portfolio asset allocation across different asset classes and sectors
- Benchmark comparison
- Functionality to compare portfolio performance against relevant market benchmarks and indices
- Custom reporting templates
- Ability to create and save customized reporting templates for specific client segments or requirements
- ESG/sustainability reporting
- Reports on environmental, social and governance factors in investment holdings
- Fee transparency reporting
- Detailed breakdown of management fees, transaction costs, and other expenses
- Forward-looking scenario analysis
- Projection reports showing various market scenarios and potential portfolio outcomes
- Goal-based reporting
- Progress tracking toward specific financial goals and objectives set by clients
- Historical transaction reporting
- Comprehensive record of all portfolio transactions during the reporting period
- Portfolio performance reporting
- Ability to generate detailed portfolio performance metrics including absolute and relative returns over multiple time periods
- Report processing speed
- Time taken to generate complex client reports
- Risk analytics reporting
- Ability to report on various risk metrics including volatility, Sharpe ratio, and drawdown statistics
- Tax reporting
- Generation of tax-related reports including realized/unrealized gains and losses, dividend income, and tax lot information
Security & Data Protection
Features ensuring the security and protection of sensitive client information
- Data encryption
- Encryption of data both in transit and at rest
- Data loss prevention
- Tools to prevent unauthorized export or sharing of sensitive data
- IP restriction capabilities
- Ability to restrict system access to specific IP addresses or ranges
- Intrusion detection
- Systems to detect and alert on unauthorized access attempts
- Multi-factor authentication
- Implementation of multiple verification layers for system access
- Password policy enforcement
- Tools to enforce strong password policies and regular changes
- Role-based access control
- Granular user permissions based on roles and responsibilities
- Secure client communication
- Encrypted channels for all client communications and file sharing
- Security audit logging
- Detailed logs of all security-related events and activities
- Security breach notification time
- Time taken to detect and notify of potential security breaches
- Security certification
- Industry security certifications such as SOC 2, ISO 27001
- Session timeout controls
- Automatic logout after periods of inactivity
- Vulnerability scanning
- Regular scanning for security vulnerabilities in the system
Technology Infrastructure
Underlying technology components and architecture of the reporting system
- API extensibility
- Comprehensive API access for extending system capabilities
- Backup frequency
- How often system data is backed up
- Browser compatibility
- Range of web browsers supported by the system
- Cloud-based deployment
- Availability as a cloud-based SaaS solution versus on-premises deployment
- Database technology
- Type and capabilities of the underlying database system
- Disaster recovery capabilities
- Systems and processes to recover from major disruptions or data loss
- Hybrid deployment options
- Flexibility to deploy in hybrid cloud/on-premises configurations
- Mobile platform support
- Native support for various mobile platforms (iOS, Android)
- Recovery point objective
- Maximum data loss tolerance in case of system failure
- Recovery time objective
- Target time to restore system functionality after an outage
- Single sign-on integration
- Support for enterprise single sign-on solutions
- Third-party integrations
- Pre-built integrations with common wealth management platforms