Saxo Bank introduces digital advisory solution SaxoPartnerConnect
Multi-asset investment specialist Saxo Bank announced today at the Singapore Fintech Festival that it has launched SaxoPartnerConnect, a one-stop digital advisory solution that supports self-directed, advisory and discretionary business, enabling wealth managers to better service their clients, while offering scalability and reducing costs and complexities.
Currently, wealth management services typically come from five sources: Banks, brokers, independent financial advisors, external asset managers, and robo advisors. The most common pain points for wealth managers in terms of the tools available to them to support their business model include:
- Regulatory requirements
- Non-scalable and expensive legacy tech stack
- Surrounding services, such as reporting, corporate actions, execution and settlement, and market data, are rarely well integrated.
Besides its direct business offering trading and investing platforms and services for retail investors, Saxo Institutional covers wholesale clients (B2B2C) and direct B2B clients. Institutional partners utilise Saxo’s platforms, technology and capabilities to give their end clients access to global capital markets, allowing Saxo’s partners to focus on servicing their clients (Banking as a Service). Partners are serviced via dedicated partner tools and through all of Saxo’s platforms, including Open API and FIX API.
SaxoPartnerConnect’s key features include:
- The Model Manager: Partners can create dedicated model portfolios. These can be used for both discretionary and advised clients, and they can choose scheduled and ad-hoc rebalancing.
- SaxoAdvisor: Built into SaxoPartnerConnect, this suite of end-to-end financial advisory tools lets partners create investment proposals. It includes a digital client approval flow, advisory sessions spanning multiple accounts, and allows for accounts with different ‘management types’ on a single client. It can support advised accounts, managed accounts and self-directed accounts.
- Client screener: This allows users to get a full overview of their client base including the ability to generate portfolio and transaction reports in bulk.
- Efficient Client Management Portal: One stop system to access multi-asset classes with advanced allocation and rebalancing tools. The easy and efficient client management portal comes with digital communication throughout investment circle, letting advisors manage the full client lifecycle such as onboarding, funding, trading, corporate actions and renewal on behalf of clients.