The Wealth Management Solution suite has the capability of automating the entire suite of investments during the lifecycle of wealth creation, growth and management. Further enhancing the Milessoft advantage of covering a wide array of asset class - mutual fund, equity, fixed income instruments, real estate and commodities - the solution also covers the entire customer management lifecycle. The solution aims at reducing the transaction time thereby increasing the operational efficiency.

The wealth management solution covers following modules:

• Wealth Management
• Revenue Management
• Financial Planning
• FA Workstation

The rising demand for innovative customer services at globally competitive prices necessitates the need for managing revenue streams at financial services organizations while helping them expand their business and optimize their performance. MoneyWare Revenue Management is the next generation module of the MoneyWare Wealth Management Suite, which enables users to maintain different types of income and their specific logical combinations. MoneyWare Revenue modules powers organizations to produce precise data in various dimensions and facilitates the maintenance of rate cards in the system, devising of commissions receivable and payment schedules, generation of several business and operational reports, and setting up and managing a wide variety of incentive programs for their sales force and client engagement teams.

Financial planning is among the most sought services. The unpredictability of the financial environment and the macro-economic factors being beyond voluntary control accentuate the demand for quality financial advice. As people plan for various stages of life and endeavor to have a healthy retirement corpus, they seek financial products and services along with proper guidance to help achieve their long term goals.

In India and the emerging economies, savings rates are high and the importance of financial planning using proper investment channels and financial products has assumed great significance. Financial advisors handle an increasing number of clients with varying needs and have realized the criticality of ensuring the most efficient services to retain clients and increase revenue.

At Milessoft, we have always endeavored to empower financial market participants and service providers with efficient solutions to meet the challenges. The Financial Planning module within our flagship product MoneyWare Integra facilitates efficient financial planning while seamlessly integrating with large enterprise applications and infrastructure. It is built on the most modular software framework in the industry, providing the ability to configure the application to facilitate strategic advice and product specific recommendations and is customized to suit the client’s requirements. It has been designed simulating a financial advisors environment and considering the scenarios faced while working with clients and catering to the diverse financial planning requirements.

The process flow below can be further automated for a “mass affluent” marketplace and target segment should the organization implementing the solution choose to do so. The simplified process has been implemented at multiple locations including one of the leading financial institutions in the country.




Key Product Highlights and Features:

• Highly customized, enterprise-class advisor workstation, financial planning software and solutions that can be used by advisors and planning centers
• Multiple configurable versions customized to suit the business needs and ensure maximum productivity and adapt to diverse planning scenarios ranging from basic needs assessment to the most sophisticated planning scenarios for high net worth individuals.
• Automated initial needs analysis and data collection process enabling agents and advisors to become much more efficient
• Seamless transition as the client’s needs progress, and ensures consistent advice across applications and advisors
• Multi-goal financial plans including Children’s education, investment planning, Insurance planning and Retirement planning according to Lifestyle and Annual Income
• Automatic generation of strategies to meet client goals within established parameters without manually juggling inputs to find a successful plan. Uses Simulation to analyses plan success probabilities based on the most detailed historical data available thereby increasing its chances of accuracy before implementation.
• Scenario Builders to create alternative/worst case scenarios off the base plan to accommodate contingencies and alternative funding strategies
• Custom portfolio recommendations based on the plan requirements and personalized risk analysis. Further, efficient tax planning is administered through built in detailed tax scenarios and assumptions
• Insight into business and management metrics such as revenue opportunities, customer conversion rates and advisor trends and generates easy-to-understand business reports
• Highly-scalable infrastructure to support simultaneous users and a completely customized interface which seamlessly adapts to the overall financial web site and existing back-end applications
• The interface also enables identification of sales opportunities quickly, highlights the firm's financial products, and helps agents and advisors engage educated consumers actively to address identified needs