Home Media releasesGBST upgrades its Salesforce based WealthConnect practice management system to enhance UK adviser efficiencies and client outcomes

GBST upgrades its Salesforce based WealthConnect practice management system to enhance UK adviser efficiencies and client outcomes


London – GBST, a leading global provider of wealth management administration, adviser, and digital technology solutions, has unveiled significant upgrades to its WealthConnect practice management system.

GBST’s WealthConnect provides complete client lifecycle management, including initial prospecting and onboarding. It extends to financial advice, portfolio administration, and ongoing client service and compliance management. It also streamlines practice management to drive efficiency through an easy-to-use and compliant advice process and workflows. At the same time, its front-end digital solution speeds up and simplifies fact finds, document sharing, and approval processes fostering connectivity between clients and advisers.

The new functionality, which underscores GBST’s commitment to delivering cutting-edge solutions to the advice market, focuses on enriching WealthConnect’s onboarding, review, and advice wizards. These provide different pathways through the advice process, delivering greater flexibility over the advice journey – while at the same time, minimising cumbersome back-office tasks and allowing advisers to focus on value-added services.

The cloud-based solution now also boasts enhanced modelling, including across multiple wrappers, enabling advisers to create cashflow, tax, and overall wealth projections, and compare different scenarios. The outputs are integrated directly into the advice wizard, to support advice recommendations and document creation.

David Simpson, GBST’s Head of EMEA, said, “We are well known in the UK market for streamlining wealth management product administration and with this upgrade to WealthConnect, we are extending our proven fintech expertise to advice solutions. The FCA’s Advice Guidance Boundary Review sets out proposals to address the UK’s significant advice gap, but we believe access to advice can be expanded through technology, using advice tools that deliver greater efficiencies, deeper insights, and better overall client experiences.”

Pierce Wittke, WealthConnect’s Chief Technology Officer, said, “These latest improvements provide greater flexibility for both advisers and their clients. The new functionality supports the traditional advice process through the digital production of client advice documents, electronic signatures and intuitive business processes that avoid rekeying information.”

GBST acquired WealthConnect in May 2023 as part of its strategy to enhance and expand its cloud-based Software as a Service (SaaS) product portfolio to deliver innovation and efficiencies to advisory and wealth management businesses while driving better customer outcomes.


Posted in: Wealth Management Administration

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