Wealth Management Platform with a Robo-Advisor

Wealth Management PlatformWealth Management Platform
Industry:

Highlights

Industry

FinTech

Solution

Wealth Management Platform

Project Duration

Ongoing, since May 2019

Methodologies

Scrum/Agile

Technologies

.Net, Angular 5, ASP.NET Core, Angular, Stripe, Mandrill, Materialize CSS

Project Team

2 .Net engineers, 1 Front-end developer, 1 BA, 1 PM, 2 QA, 1 Designer

Challenge

Our client is a renowned wealth advisory and asset management agency based in Switzerland. They decided to extend their operations by providing a more comprehensive range of digital services to their prospective clientele. To do so, they contacted OTR to develop an electronic platform that would connect funders with their wealth management advisors.

The client chose OTR because we’d already had in developing similar projects for wealth management and consulting agencies by that time. OTR became the perfect match to build a fully digital platform to promote and provide their services online thanks to our extensive understanding of integrated financial tools and data-driven analytics.

Solution and its key capabilities

The new wealth management online platform allowed to render wealth advisory services online. The clients could access the solution from their homes all while staying anonymous throughout their investment journey. 

Wealth management platform

At the same time, the solution required minimum human involvement on our client’s end. At its core, the platform was an algorithm-driven financial advisor providing financial planning services and included the following key capabilities:

  • a questionnaire for the client to fill in and determine their investment model
  • module translating client data into investment logic (risk appetite, liquidity factors, etc)
  • robo-advisor offering best-suiting available investment opportunities 
  • custom portfolios based on individual targets and funds available 
  • administration module for automated alerts and rebalance in case of market shifts
  • two management options: a recommended model portfolio (monitored by the client) or a tailored portfolio (monitored, rebalanced, and adjusted by a dedicated manager)

Development approach

Our team started with gathering the initial requirement during meetings with the client. This way, we were able to consider all aspects of their technology infrastructure and business operations. First, together with our client’s team, we created the list of questions each new user needed to answer during the registration. The collected info was then routed to our client’s team to prepare individual investment offerings. Our developers engineered the algorithms that figure out the optimal asset allocation and set up an investment portfolio. 

The second stage was creating an administration module gathering feeds from market data and news providers. The module processes the inputs from semi-automatically create and monitor all the portfolios in the system.  At the same time, the front-end and design teams collaborated to create simple, comprehensive, and visually appealing interfaces.

Choosing Agile methodology in development helped our teams to focus on the efficient delivery of business value. During the entire project, we firmly focused on an iterative approach. Since we performed testing throughout all development stages, we could stay confident we stayed in line with the quality requirements, alerted teams to any potential issues, and delivered changes faster.

Result

Today, OTR’s Wealth Management Platform successfully serves as a front-to-mid advisor platform. It provides a 360° wealth overview, financial goal planning, and portfolio management capabilities. The solution allows investors to register, answer a questionnaire to determine their risk profile. Each user chooses between self-managed recommended model portfolios (paid individually for each new portfolio/portfolio adjustment) and individual portfolio packages, managed by our client’s team 24/7.

Our robo-advisor relies upon rule-based automation and applies preset algorithms to customize, monitor, and adjust client portfolios. It has already resulted in smarter recommendations, significantly increasing reported positive feedback by 54%. What’s more, users now have quick access to all metrics providing a clear view of their investment goal progress.

The platform has been up and running since late 2019 and has already become a great return on investment. OTR continues supporting the solution. Today we discuss the co-marketing plan and possible project upgrades, including adding mobile apps for iOS and Android.

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