John Bartter Deutsche Bank
John Bartter Deutsche Bank

Leveraging FX e-commerce services for Private Wealth Management

FX E-commerce for Private Wealth Management is gaining strength as firms look at ways to expand their product offering to clients in a more constructive and efficient way. Breadth of product is an essential ingredient in being a complete and effective Wealth Manager which is why more and more firms are looking at ways to fine tune both the product selection and delivery – in many cases looking to an open architecture framework to meet these needs. In addition, FX as an Asset Class is getting more attention as clients look to diversify away from more traditional asset classes and build a more diversified portfolio. Clients are also increasingly taking control over their own product selection and seeking tools which enable them to act independently. These factors put together are creating a growing demand for FX Ecommerce products.

Meeting the needs of PWM clients Given the nature of the users and their different product requirements, both from a strategic and compliance point of view, Investment Banks are putting time and effort into re-engineering their ecommerce product to meet the particular demands over and above that offered out to their traditional institutional and corporate client base.  When determining your ecommerce strategy, you first need to assess what FX products and in what form, will be of interest and applicability to PWM clients.   You will also need to establish a means to identify exactly what users within the PWM “distribution chain” will be using your application.  When segregating FX products, it is traditionally divided between ‘flow products’ and ‘customized products’.  When identifying the users, these can be broken down between users within the PWM entity or direct clients of PWM.  Once you have established your product delivery and...continued

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