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.