Dreaming of a ledger-free, globally connected wealth management industry

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By FINTECH Books Contributor, Anni Salo

We have a vision of a globally connected wealth management industry where companies can form efficient value networks. This network, can be established by any company in the industry and they can invite their partners to join. Our network removes the need for extra middlemen and therefore enables significant cost savings.

A robo-advisor could collect the best asset managers around the world under one user interface, a fund company or an asset manager can build new distribution channels for their products, and an IFA can start offering Discretionary Asset Management services but instead of hiring an entire asset management department, they can outsource the function to a company that is specialised in asset management.

Moreover, all the necessary banks and custodians are connected to the network for settlements, reconciliations, and other data transfer needs. The data exchange is done safely, transparently and in real time. While each of the network participants can concentrate on their own core business, data is transferred automatically and efficiently between interfaces.

Each of the network participants can define what kind of data they want to exchange. For example, if they wish not to hand over customer information, portfolios can be tagged with identification numbers instead of customer’s personal information. And of course, all the actions carried out in the network are recorded as required by the regulations of the financial industry. In fact,a Roboblock network helps companies to solve upcoming regulatory issues, such as how to fully benefit PSD2 and efficiently fulfil standards set by MiFID II.

We believe that the future of wealth management lies in agile value networks that bring together experts from various fields. We believe in a globally connected wealth management industry.