FNZ and State Street's new wealth manager servicing venture.
FNZ and State Street are collaborating on FNZ Trust Company, a new wealth manager servicing venture, with a majority stake acquired by FNZ in State Street’s Wealth Manager Services business and a minority interest retained by State Street.
The new venture combines the custody expertise of State Street with the international platform operated by FNZ, which currently services around 8,000 wealth management and financial advice firms across the UK, Europe and the Asia-Pacific regions. State Street will serve as sub-custodian to the custody assets belonging to Wealth Manager Services clients of FNZ Trust Company.
This marks the first step in FNZ’s strategy to expand our digital wealth platform into the North American market, where we have identified similar long-term drivers in relation to cost, transparency, digitisation and personalisation in asset and wealth management as other markets in which we operate.
Reliable and interactive, FNZ Trust Company delivers a digital-first solution covering the whole wealth management life cycle in real-time.
Key benefits include:
- A fully digital and mobile-enabled platform that facilitates real-time access to cash, disbursements, holdings, transactions and e-signatures
- The ability to maintain client positions in real-time, allowing for global multi-asset trade execution, clearing and custody
- Integrated electronic approval tools for enhanced security
- The ease and flexibility of highly configurable service capabilities for both advisers and clients
- Customisable reporting solutions
- Seamless integration with any software via an API