CLM solution provider Wealth Dynamix and technology firm Ortec Finance have allied. The goal is to integrate Ortec’s OPAL goal-based planning with WDX1, the digital CLM solution from Wealth Dynamix.

As a result, relationship managers and advisers will have complete visibility of every client’s portfolio progress against pre-defined goals.

The goal is to deliver greater value and reduce excess pressure on service fees. This works by creating investment strategies and roadmaps that are more likely to satisfy client expectations over time.

Both WDX1 and OPAL offer open APIs as well, which has helped quick and seamless integration between the platforms.

Antony Bream, managing director – EMEA and Americas at Wealth Dynamix, said: “Rather than focusing on gains or losses in isolation, goals-based planning puts investment plans into context and encourages client-adviser relationships that are more trusted and emotionally connected. We are delighted to be working with Ortec Finance to provide relationship managers with a single view of every client, which includes his or her progress against pre-defined goals, from within WDX1.

“By reducing the time taken to gain a holistic view of clients’ requirements, WDX1 provides relationship managers with more time to engage with clients, and additional insights that result in more meaningful recommendations. This will be crucial moving forwards, as clients come to rely on trusted relationships with their advisors to help stabilise and grow their portfolios, in the wake of COVID-19.”

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Iwan Schafthuizen, partner managing director at Ortec Finance, added: “Goals-based planning is proving to be instrumental in driving client satisfaction and growing AUM for wealth management firms. By connecting insights on the goals of a client with all of the other data gathered throughout the entire client lifecycle and connecting goals to underlying products, relationship managers are far better equipped to provide advice and goal monitoring that will result in successful long term engagements. The insights gained through the integration of WDX1 and OPAL make this a winning combination for both wealth managers and their clients.”

Earlier in June, Wealth Dynamix and wealth management core banking platform provider Azqore extended their partnership.