Since February 2018, the U.S.-based brokers at UBS and the Swiss private bankers are sitting in the same boat, having become part of the new super-division dubbed Global Wealth Management.
The industry response to this risk and complexity has been to establish best practice, but this has introduced the paradox that risk can be reduced, efficiency increased, and services improved, but rarely all together.
GPS, a Brazilian company of the Julius Baer Group, has signed a partnership agreement with the leading local digital financial advisor Magnetis, in which it will acquire a minority stake.
The challenge then, for Berman McAleer was to take on this data conversion task. “I personally reviewed over 350,000 lines of data during the year that it took to make the switch,” says Kim Silvestri, Director of Investment Operations.