Rowan Dartington writes off £1m from black hole after FSA fine

Private client stock broker Rowan Dartington has been fined £511,000 by the FSA and has been forced to write off £1 million from an accounting black hole.  

What has it meant?

• Reduction in trust• Retreat to safety• Reduction in complexity• More focus on regulation• Focus on cost

New approach to Wealth Management ?“Clients want

conviction not excuses”

“Benchmarking is a dying trade”

How do you solve it?• Trust

– Understand & Communicate with Clients

• Transparency– Buy clients into the investment strategy

• Regulation– Document & record accurately

• Trust– Be up to date and be responsive

How FIGARO Wealth can help....

FigaroWealth

14th October 2010Mark YoungFigaro Wealth Product Owner

Agenda• The JHC Way – how we work• Relationship Management• Portfolio Management• Back to Steve

One size does not fit all • JHC recognise that there will always be market trends driven by,

for example, changes to regulation, economic conditions, Clients becoming more knowledgeable and sophisticated.

• Equally there will always be approaches to Wealth Management that vary from one firm to another driven by, for example: The firm’s business model and the products and services offered The demands of the Clients; how much they want to be involved in the decision

making process The wealth of the Clients

• So how do we make sure that our software can support these varied approaches and constant changes?

The JHC way• Clients of JHC are close partners• Solution providers not software providers• Consultative approach to software development

Consultation with clients – welcome and encourage input Regular User Groups – Strategic, Wealth Help direct and prioritise development roadmap

• Full range of complementary services Dedicated Client Managers Consultancy Implementation Training Technical Support and Helpdesk

Overview• Figaro provides a comprehensive front to back office solution

over a single database • Figaro Wealth brings together all of the tools required for all

types of Front Office user Wealth Manager Relationship Manager Portfolio Manager

• to service all types of client UHNW to Mass Affluent Discretionary, Advisory, Execution Only

• Rich functionality – achieved by virtue of the single database and closely integrated components

Relationship Management

Figaro Database

Document Archive

Relationship Manager or Team

Consolidated View

Client Enquiry via Web Portal

Portfolio Management

Portfolio ManagementPortfolio

Management Order Management

Wealth Manager or Team

Monitoring and Reporting• Comprehensive portfolio risk monitoring using Bita Monitor• GIPS compliant performance

Composite returns Any date period Asset and asset class performance and contribution

• Benchmarking Market indices – simple or composite Value based model returns

• Output on desktop or client ready report

Back to Steve….

Partnership

PartnershipPartnership

Lunch is served!