Case Study: Storebrand Asset Management

3 countries, 2 projects, one view of the business

  • The leading Nordic private asset manager, Storebrand Asset Management sought wealth management software to position it for future expansion and meet the changing requirements of its clients
  • By choosing the Comarch Wealth Management system supported by Comarch Business Intelligence, Storebrand was able to offer personalized investment reports, standardize processes, gain a single view of its business, and save its advisors’ time
  • As part of an extensive project split into two main phases, Comarch customized and implemented its product in three Scandinavian countries

DOSSIER

COMPANY: Storebrand Asset Management

INDUSTRY: Banking / Wealth Management

OBJECTIVE: Implement reporting and advisory platform

SOLUTION: Comarch Wealth Management, Comarch Business Intelligence

DURATION: 9 months reporting platform, 10 months advisory platform

storebrand logo

Shifting expectations, changing needs

Storebrand Asset Management is part of the Storebrand group with NOK 921  billion in assets under management (3Q20). Storebrand wants to deliver value through Storebrand's own solutions and through selected boutiques - Delphi Fonder, SKAGEN, SPP Fonder and Cubera. They have clients in different regions across the world, with different cultures, languages, and needs, but expect the same attentive, high-level of service.

Over time, Storebrand advisors had seen different advisory processes, which often depended on manual data input. As its advisory business continued to grow, Storebrand wanted to standardize these processes and collect better data from the business, positioning the bank to seize further growth opportunities.

At the same time, Storebrand wanted to provide their clients with best-in-class investments reports accessed via customer portal. What is more, Storebrand wished to pioneer delivering the reports not only to the institutional or HNWI clients, but also to retail ones.

CWM

Key goals: automate, standardize, simplify

Deliver reliable investment reports to all clients
Automate and accelerate report generation
Develop a single, standard advisory framework and process across countries, harmonizing model portfolios, risk profiling and portfolio value simulations
Provide a single picture of client wealth for financial advisors
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We want to invest in the right technology, to enhance the relationship, to empower our advisors and analysts. We also want to free up a lot of time for routine operations, so we can focus on what really matters – the client.

Christian Vestol, VP Engineering at Storebrand

A flexible solution

Storebrand selected Comarch Wealth Management and Business Intelligence software for client reporting and investment advisory, implementing the main platform solutions: Advisor Front Office, Performance & Risk Analytics, Client Reporting Portal, Data Warehouse and Reporting Engine.

The solution was developed to support advisors and their clients in 3 Nordic counties: Norway, Denmark, and Sweden. Comarch’s implementation team was able to customize the software to meet local language, reporting, and presentation needs, while continuing to add new features.

Results and customer feedback

The Wealth Management solution deployment gave Storebrand:

In the area of advisory process:

  • A single, intuitive system for building financial plans, risk profiles, and portfolios, standardizing each of these steps
  • One view for financial advisors of their clients’ financial data, automating manual, tedious work
  • Aggregated, clearly presented data from across the business, and much-improved data quality

In the area of client reporting:

  • High class of investment reports adjusted to individual needs of institutional and retail customers
  • Automatic process generation for over 100 000 reports a month, taking just a few hours thanks to report bursting and data warehouse technology
  • Reports available in the client portal in 6 different languages for customers from 30+ countries
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[Comarch] has a very good understanding of the wealth management and private banking industry … We liked their solution very much, especially the flexibility they had in changing and continuously improving our tools.

Christian Vestol, VP Engineering at Storebrand

About Comarch

Comarch is a global designer, provider, and integrator of innovative IT solutions, advanced electronics and specialized hardware solutions. Since 1993, Comarch has been helping clients achieve higher profitability thanks to its vast range of innovative products and quality services. With over 20 years of experience in asset and wealth management, Comarch has helped over 100 customers in the banking and investment industries worldwide to serve their valued customers more effectively.

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