Technology-enabled transformation in wealth and asset management

We help you effectively harness the power of technology to simplify, rationalize and centralize your firm’s operations, clearing the way to improve efficiency and extend product capabilities to attract new investments.

What EY can do for you

Wealth and asset management firms are undergoing a significant change in the way technology and data support the business of investment management.

Firms continue to experience cost pressures from increasing competition, low interest rates, the rise of passive investing and the weight of increased regulation. As a result, firms must focus on efficiency and scalability by simplifying their technology architecture, standardizing workflows and automating processes.

Investors, client and regulators are demanding improved transparency and reporting capabilities. In response, firms must review and consolidate their technology to evolve their investment products. They must also look to revitalize IT security practices due to growing cyber threats.

We leverage our vendor relationships, cross-service-line and global capabilities to help you through the entire transformation journey, including:

  • Strategy definition and business case development
  • Current state analysis and future state technology assessment and gap analysis
  • Strategic application platform rationalization (i.e., buy/build/retire/outsource)
  • System implementation, integration, testing and benefits realization

We can help you enhance capabilities, integrate solutions, increase flexibility and scalability, maintain consistent reporting approaches, and leverage outsourcing opportunities.

Why choose us as your technology-enabled transformation partner?

  • Our experience delivering large-scale technology transformation and implementation projects
  • Strong relationships with major vendors, including BlackRock Solutions, Charles River, FNZ, IRESS, SEI and SimCorp 
  • A dedicated wealth and asset management network that provides an industry-specific range of technology, operational, organization and change management services
  • An approach that considers the overall operating model and combines technology know-how with dedicated regulatory and tax professionals
The better the question. The better the answer. The better the world works.

Keeping a business transformation on track

We supported a wealth and asset management technology provider in delivering a successful transformation project.

The better the question. The better the answer. The better the world works.

How can one engagement support two clients?

Helping to deliver a large-scale transformation project

A leading wealth and asset management technology provider called us in to help it deliver a large-scale transformation project for a UK-based wealth manager. The technology company was implementing a bespoke, integrated front- and back-office platform for the wealth manager, including a brand-new proposition that enabled self-directing customers to buy and sell investments. It turned to us to help make sure the project was completed successfully and involved practitioners with the right skills and experience.

The better the question. The better the answer. The better the world works.

Practical solutions

Using our asset management industry knowledge to design a roadmap

The project was complex, requiring the wealth manager to migrate its entire book of business from its legacy platform to the new system and integrate technology architecture. We began by analyzing the existing situation in the form of a “health check,” talking to everyone involved to identify where the pain points were. After interviewing project managers, development teams and the end client to uncover the key challenges, we came up with a set of recommendations.

Our recommendations were detailed and practical, outlining the measures required to deliver the project on time and to budget.

“We established governance and worked with the business to agree on responsibilities and accountabilities and make sure regulatory requirements were met,” explains Dean Brown, EY Wealth & Asset Management Partner. “We held regular meetings with both parties, made sure both organizations were clear on scope and set up a phased delivery plan.”

The technology provider then asked us to execute the recommendations, at which point we took on full responsibility for managing its relationship with the end client.

Thanks to our knowledge of the industry and experience managing similar technology-enabled transformation projects, we were able to achieve positive outcomes for both parties. The wealth manager successfully completed its transition to the new system and is now benefiting from economies of scale and an improved ability to make acquisitions. 

The better the question. The better the answer. The better the world works.

Two satisfied customers

Supporting technology providers to win business and deliver results

Technology providers are increasingly turning to EY as a strategic partner. Our support gives them the flexibility to pitch for new business, knowing they can draft us in to help them with delivery. We have proven transformation methodology, coupled with knowledge of both the technology and the wealth and asset management industry.

“Operating models are constantly changing and so are client demands,” says Dean Brown. “We help technology vendors retain their clients by better understanding the challenges they are facing. This also gives vendors confidence that they are making the right investments in product development.”

Contact us

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