PSG Wealth (PSG), the wealth management arm of South African financial services group PSG Konsult, has selected Societe Generale Securities Services (SGSS) to provide a comprehensive execution and investment administration outsourcing solution for foreign assets.
Under the deal, SGSS will support the end-investors of PSG Wealth’s direct-to-client online wealth and broker-dealer platforms.
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As part of the collaboration, PSG will retain its current web solution and integrate the SGSS interface directly into its deal inception order management system, while SGSS will provide custody safekeeping at a segregated client account level.
SGSS said that its fully integrated wealth and investment management outsourcing solution provides comprehensive and modular strategic solutions for wealth and investment managers, private banks, direct dealing/broking firms and advisory firms.
This solution spans the full value-chain from execution to custody and provides access to portfolio management platform and provides end-investors access to a web portal which provides performance measurement, portfolio composition and real time positions alongside middle- and back-office services.
SGSS head of sales, business development & relationship management in the UK Michael Le Garignon said: "The need to ensure the sustainability of their operating models is pushing managers and brokers to drive down trade execution fees and carefully outsource investment operations.
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By GlobalData"At SGSS, our objective is to help our clients grow through adapting their operations to cope with scale, operating risk and regulatory changes."
