San Francisco, October 21, 2022 — The daily mechanics of responding to clients’ requests for cash from their managed accounts can be time consuming and error prone, particularly when considered across an entire book of business. MyVest addressed this challenge with the latest release of its Strategic Portfolio System™ (SPS), with a number of features directly aimed at streamlining the cash raise workflow at scale. Highlights include:
Improved workflow across the firm for cash raises
SPS’s improved UI, streamlined workflow, and actionable alerts enhance the interaction between advisors and the firm’s centralized trading team. The improved workflow allows the advisor to maintain control over the cash raise rules for each client while giving the centralized trading team the tools to respond quickly and manage all liquidity requests across advisors in bulk.
- Default cash raise method: We build on our recently expanded selection of cash raise methods and allow the advisor to assign a default cash raise method to each client’s portfolio, automating this task for ongoing cash raise needs.
- Actionable alerts: We expanded our suite of actionable alerts for the centralized trading team to surface and act on cash raise requests across all accounts.
- Bulk cash-raise-only rebalance: We give the central trading team the ability to run a bulk cash-raise-only rebalance across a selection of accounts at one time, with the flexibility to run the request intraday as well as overnight.
Other notable SPS enhancements include:
- Ongoing UX improvements include a new look and feel for the Advisor Portal including a more powerful way to add personalizations to a client’s portfolio.
- Self-service platform configuration enhancements include data and UX improvements to make it easier for firms to manage their users, households, portfolios, and accounts.
“With the addition of cash management dashboard alerts, MyVest puts our cash raise activities front and center, giving us visibility to quickly pinpoint cash needs that require immediate attention. The ability to identify and bulk rebalance new cash raise requests intraday means we can better meet client expectations in an efficient and scalable way.” said Scott Lautz, Senior Director Managed Account Services, TIAA.