NextWealth: Investment managers still hindered by 'low tech' operations

Reliant on spreadsheets and Word

Technology challenges and failures to modernise are still hindering modern wealth management businesses, according to market researchers NextWealth.

According to its Tech and the Investment Proposition report, which surveyed over 50 senior executives in technology, operations and investment teams, investment managers still rely on in-house systems based on spreadsheets, Word documents and SharePoint to track multi-million-pound investment decision-making. The report also found that inconsistencies in platform interfaces and functionality add risk and cost to managing portfolios on platform. Discretionary fund managers (DFMs) are in some cases limiting platform availability to avoid compromising their proposition. Furthermore, a limit...