New portfolio compliance tool comes to market

Auckland-based firm MyFiduciary has inked a deal to be the New Zealand agents for a UK portfolio management monitoring and compliance tool.

Monday, June 25th 2018, 6:15AM

MyFiduciary has formed a strategic partnership with fintech firm JHC Systems (JHC) that will allow firms across Australia and New Zealand to access a digital risk, monitoring and analytics dashboard called JHC Neon.

This comes in the wake of an increased regulatory focus on the adequacy of portfolio monitoring and risk controls. The combination of MyFiduciary’s consultancy service and JHC’s technology means investment organisations and advice firms can access the tools and global best practice standards required to clear the increasing regulatory bar, and end-client expectations.

MyFiduciary provides investment governance training and support for a range of investment organisations. It wanted to expand its services to ensure its clients are better informed about the assets which they manage, and to enhance and automate portfolio oversight and operations. Neon was identified as an ideal and proven solution to achieve this aim. It offers dynamic 360-degree monitoring, risk analysis and automated suitability and compliance checking.

Neon is designed to transform and remove the manual processes typically underpinning these areas.

“This partnership is well-aligned with our mission of helping fiduciaries gather, grow and protect assets," MyFiduciary director Aaron Drew says. "Our clients face increasing compliance burdens, and we see there is a pressing need for a robust, flexible and automated portfolio analytics solution that can cover a broad range of assets types, and integrate a variety of data sources. This capability is hard to come by, but seeing what Neon has delivered to wealth and asset managers in the UK, Europe and Middle East, we knew it would be the ideal fit for our part of the world.”

JHC chief executive Ed Lopez says “As demand for JHC’s technology outside of our core markets continues to grow, we have extended our partner programme to ensure that we have the agreements in place to support global demand with local, on-the-ground expertise. The size of the Australian and New Zealand asset management space is well known, and while there are clear overlaps with UK, European and US regulations for financial services participants, it was important to commit to the region with a proven and recognised local partner who shares our values and focus."

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