View the article online at http://citywire.co.uk/wealth-manager/article/a750896
Brewin's £32m hit exposes wealth firms' big tech headache
by Dylan Lobo on May 13, 2014 at 11:25
If Brewin can get its tech right the potential reward is significant.
A survey from SEI highlighted how improving operations remains a priority for investment managers as regulators continue to demand deeper levels of transparency.
It also highlighted how operational capabilities are becoming a key competitive advantage, with 77% of the investment managers surveyed believing there is a ‘somewhat strong’ or ‘very strong’ link between their operational capabilities and their business' competitiveness.
‘Having strong operational capabilities has been moving up on the priority list for investment managers for years now as they see that superior operations can actually differentiate their firms in the marketplace,’ SEI’s Ross Ellis said.
‘In today’s climate, it’s critical for investment managers to find new ways to enhance and streamline operations in order to support investor demands.’
As Brewin goes back to the drawing board, it will hope this time it comes up with a tech solution to exploit this opportunity.
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.
More about this:
More from us
- Invesco Perpetual fined £18.6m for risk failings linked to Woodford funds
- Brewin takes £32m hit on failed IT system
On the road
on Jul 29, 2014 at 13:10