Open Architecture Practice Management

The bank-based, wealth management industry is in process of making the intellectual leap to enable Open Architecture. Defined broadly, Open Architecture, in all of its states, is the evolving foundation of the fastest growing segment of bank-based, wealth management. Implementation models can range from bank-based, proprietary disciplines; to Separately Managed Account platforms ("SMA"); to an Overlay-models based approach; to Unified Account Management ("UMA"); to Unified Managed Household Accounts ("UMH").

All too often, however, banks have misfired at the mission critical, adoption & implementation stage and made avoidable mistakes ranging from not adequately investigating the multiple states of open architecture; to not asking the right questions during the RFI & RFP process; to negotiating a poor contract; to not adequately preparing an adoption & implementation regimen.

The Open Architecture Practice Management tab on our website is designed to prompt thought and the beginning of a serious discussion about key issues underpinning a successful open architecture initiative.

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