With FactSet as its primary market data provider, the firm gave its advisors seamless access to FactSet’s complete suite of multi-asset class content, analytics, and global market data, while also providing relevant and consistent data for its internal and client-facing applications and websites.

Firm Type

Large Global Financial Services Firm

The Challenge

Provide a modern, flexible, and intuitive market data platform along with rich and insightful content to empower financial advisors and clients with actionable intelligence


FactSet Web and FactSet DataFeeds

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The Challenge

The wealth management division of a large global financial services firm was looking to upgrade the market data platform used by its advisors as well as the data feeds powering its internal and client-facing applications.

The firm sought to improve adoption of its market data platform by providing users with an intuitive system that would meet their market data, research, and analytics needs. In addition, the firm’s technology department required a more streamlined and cost-effective IT infrastructure to manage the distribution of market data to the firm’s hundreds of branches.

In search of a better solution, the firm engaged market data providers to find a platform that fully addressed the users’ needs and the organization’s technical requirements.

The Solution

Following a thorough technology review and an extensive pilot, FactSet received overwhelming user support and was selected to deploy its web-based market data platform and data feeds.

FactSet delivered a robust and intuitive web platform that centralized the market data, research, and analytics the advisors needed in a single, comprehensive market data portal. With its intuitive search utility, advisors were able to quickly access FactSet’s wealth of content across stocks, bonds, funds, ETFs, options, markets, economic series, and much more.

FactSet also incorporated the firm’s internal risk scores, price targets, and links to research reports into quote displays and watchlist monitors to ensure that users had the most efficient access to this proprietary content.

FactSet worked closely with its technology partners at the firm to integrate content into its internal applications and client portals. The integration of FactSet pricing, symbology, estimates, and fundamentals into client-facing platforms ensured consistency between the data being used by the advisors and the information seen by their clients. Powered by a consolidated and optimized technology infrastructure configuration, FactSet required only four data servers compared to the dozens needed with the previous implementation.

Given the scale of the deployment and an implementation timeline of just six months, a smooth and effective conversion was critical to the project’s overall success. FactSet devised a detailed plan to deploy to each of the firm’s hundreds of branches and train thousands of advisors and client associates while minimizing any disruption to the users’ workflow.

In just a matter of weeks, FactSet established and mobilized a sizeable deployment team and equipped each trainer with the necessary skills and knowledge to facilitate a smooth and successful rollout. User training was offered both on site and virtually through pre-scheduled one-on-one meetings as well as daily group overview sessions. During these introductory training appointments, users were shown how to access their pre-imported watchlists, received assistance with formatting and configuring their home screens, and were introduced to the content and functionality most relevant to their workflow.

For support beyond the scheduled training sessions, FactSet developed a series of brief, 2-4-minute workflow-focused training videos to supplement its user manuals, FAQ documents, and tipsheets. Users were also encouraged to contact FactSet’s support desk, staffed with friendly and knowledgeable associates, ready and willing to provide navigational assistance, answer product questions, and provide on-demand training.

The Results

The FactSet deployment was successful thanks to the meticulous planning, effective coordination, and execution by FactSet and its partners at the firm. FactSet dramatically increased platform adoption and user productivity with superior content and functionality while substantially reducing IT infrastructure and overhead cost.

With FactSet’s easy-to-use platform and unique content, such as the StreetAccount news service, advisors could quickly get up to speed on market developments and communicate them to their clients. In addition, advisors appreciated having access to data and analytics for all major security types and asset classes in the office or on the road with FactSet’s mobile app, eliminating their need to navigate multiple websites and data sources to find information.

These enhanced capabilities were accompanied by substantial cost savings as FactSet helped the firm reduce the number of servers required to manage and distribute market data to its hundreds of branches. The firm was able to reduce spending further with FactSet’s cost-effective quote counting solution, which allowed the client associates to access and share real-time prices when responding to client calls.

Feedback from the field was overwhelmingly positive as advisors’ access to FactSet’s unique, cutting-edge content and technology delivered unparalleled insights and has helped to set them apart from the competition.

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