FactSet provided an end-to-end solution that enabled this analytics team to ensure advisor portfolios are aligned with client risk tolerances

Firm Type

Wealth Management

The Challenge

Boost risk oversight procedures to evaluate and monitor accounts at greater depth and scale

FactSet Solution

Wealth Management and Digital Solutions

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The Challenge

The home office analytics team at a large wealth management firm was challenged to boost its risk oversight procedures to evaluate and monitor advisor accounts at greater depth and scale. In addition to needing robust and forward-looking data, the team required the tools to share easily digestible reports with advisors whose portfolios warranted attention. To allow for effective advisor coaching, the ability to generate big, deep, multi-asset class analytics across 300,000+ portfolios was just as crucial as the ability to distribute the reports in a batched and timely manner.

As a result of an existing partnership, the firm’s trust in FactSet’s leading analytics capabilities led to an easy decision in the evaluation process.

The Solution

After a comprehensive consultation process to fully understand their desired workflow, FactSet was able to create an end-to-end solution to meet all of the analytics teams’ needs. This solution allows the surveillance team to access high-level analytics summaries, yet also drill down into individual account- and security-level data for an in-depth analysis.

FactSet’s solution delivers analytics metrics across the hundreds of thousands of accounts within the firm’s advisory program. The team can visualize this data to surface portfolio detractors and top-performing advisors across different strategies, branches, and offices. Once those details are identified, the analytics team leverages interactive portfolio analytics tools and standardized reporting templates to dive into individual outlier accounts, giving them the ability to determine misalignments between client risk tolerances and investment objectives. Having this robust analysis allows the home analytics team to fully support and coach their advisors toward superior client investment outcomes.

Throughout the implementation process, FactSet worked closely with the firm, providing professional consultative services to address the firm’s specific oversight workflow. As a vital piece to the project’s scope and scale, this highly collaborative effort facilitated a structured and effective deployment. FactSet was capable of creating customized risk analytics for the client’s goals, meeting them where they needed FactSet to be.

The Results

FactSet answered this team’s need for improved oversight and adherence to their fiduciary duty by creating a scalable and dynamic reporting workflow. The analytics team can now educate advisors on portfolio construction and show comparisons to top-performing advisors, effectively improving client investment objectives in an opportune manner.

By harnessing the power of FactSet’s multi-asset class platform for analytics, risk, and reporting capabilities, the analytics team has gone from generating reports for 100 advisors to 3,000 advisors for 300,000+ portfolios. Further, FactSet’s scalable and robust analytics allow the firm to respond to changing market conditions, provide support to its thousands of advisors, and uphold its fiduciary duty to the hundreds of thousands of clients who trust them with their hard-earned money.

FactSet has continued to develop a strong relationship with the firm, bolstered by superior support services and its engrained solutions. Looking ahead, the oversight team intends to scale across even more accounts and advisors due to the success of the initial deployment and positive feedback from the home office and financial advisors. Also, there are plans to integrate additional FactSet analytics into the oversight process to have an even deeper comprehension of risk across accounts.

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