FIS Revamps Small-Balance Advice Solution

FIS, a global provider of financial services technology, has announced enhancements to its end-to-end suite of wealth management offerings, aimed at helping advisers grow their business and improve profitability.

The newly expanded solution uses robo-advisory and automation technology from Trizic to enable FIS clients to “more cost-effectively manage smaller-balance accounts, attract tech-savvy millennials, and serve high-net-worth clients looking for access to sophisticated investment models through digital advice.”

Offered as part of the FIS wealth management platform, the digital advice solution automates the full adviser workflow, including onboarding and risk tolerance measurement to portfolio construction, reporting and billing. The firm explains that clients can select a technology-only option that can be integrated with existing systems and workflows or a complete robo-advisory solution, including model management and custody from FIS.

“As our clients look for new ways to better service investors and help them achieve their financial goals, while profitably growing their business, the ability to offer capabilities at all points across the wealth continuum is essential,” observes Mike Rogalski, head of wealth and retirement for FIS. He adds that the digital advice solution is “multi-custodial and integrates with FIS trust and core systems, making it easy for a financial institution to convert smaller balance accounts into fully managed accounts as balances grow … The robo-advisory capability can run independently or as part of an adviser-supported solution, depending upon the firm’s needs.”

More information is available here.