View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
October 27, 2009updated 04 Apr 2017 3:55pm

State Street Expands Wealth Management Services

By adding State Street Wealth Connect solution that provides access to services for the high net worth market

By BBR Staff

State Street, a provider of financial services to institutional investors, has expanded its wealth management service offerings that build on its suite of services.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

State Street Wealth Connect provides access to State Street through a customisable web-based platform that is fully integrated with its investment servicing solutions including global custody, accounting and corporate actions monitoring. Users can view and create custom reports and queries to analyse accounts, holdings, transactions and event information.

In addition, the service provides on-demand client statements as well as additional transparency into underlying security positions through reporting on exposure and tax impact. Additional services, such as messaging and document delivery, help wealth managers to communicate directly with their customers through this portal. State Street WealthConnect can be customised as a full-service model or as a targeted set of services to meet the needs of each customer.

State Street has added that its expanded service offering includes customised interfaces and white-label capabilities for wealth managers including registered investment advisors, trust companies, and private wealth management firms and their high net worth customers. Existing customers can access the system via its web interface. Additionally, it is planning to release additional functionality to the WealthConnect platform within the next year including performance and analytics, administrative workstation and portfolio management tools.

Steve Nazzaro, senior vice president of wealth manager services business at State Street, said: “Our wealth management customers are increasingly looking for a comprehensive service that helps them manage regulatory requirements, optimize their business processes and provide expanded functionality and reporting. The enhancements that State Street has made to its WealthConnect offering enables our customers to focus on asset management and growth instead of middle-and back-office functions.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International