Halligan: Most recently, we engaged with one of the largest ETF providers in the U.S. to modify MARS to provide reporting using disparate ETF data sources. Our contacts at the firm were familiar with MARS from past experience at other firms and knew SalesFocus Solutions to be a FinTech firm that was more than agile and flexible enough to meet the needs of their business. This firm was managing all this data in a playbook, which was actually a large spreadsheet and this was the source of information provided to their wholesalers. Today, they have this information and more at their fingertips using our IntelliMARS mobile app. This firm created a business intelligence group that did not exist before and MARS was the FinTech solution they chose for this unit to use.
Another example would be one of our clients that partnered with us to create our Unify Registered Rep database. This client looked at other vendors in this space, but didn’t want to hire another firm. We provided them with a framework of what they were looking for and built our Unify database in conjunction with their inputs and requirements. Once we successfully launched it for this client, we were able to bring it to market for all clients.
Hortz: What best advice do you want to share with asset management firms about the need to reach out and partner with FinTech firms such as yours?
Halligan: When looking for a solution to a current business need or challenge, try not to focus on the short-term effort and the change required to put something new in place. Focus on the long-term benefits of having a true expert perform these vital functions. Most importantly, when looking at the cost and expenditure to bring in a FinTech solution, make sure you also evaluate the current expense savings such as internal resources freed up to do more strategic work. FinTech solutions can be a significant component in the growth and success for all asset management firms.
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