MASECO Private Wealth selects Third Financial to drive business expansion

London - 17 January 2011

US specialist wealth management firm to use tercero to improve CRM, portfolio management and business processes

Third Financial Software, provider of wealth management technology solutions, has today announced that private wealth management firm, MASECO Private Wealth (MASECO), has selected its tercero Wealth Workstation to support its growth, increase automation and gain operational efficiencies. tercero Wealth Workstation enhances MASECO’s client relationship management (CRM), ensures accurate transparent investment management and high quality web reporting. The wealth management platform is expected to offer MASECO a return on investment in 18 months.

MASECO develops and implements tax efficient global wealth and asset management strategies for US families and trusts. It specialises in cross-border US wealth management services and employs global investment solutions that are US tax efficient and compliant.

Josh Matthews, managing partner and co-founder of MASECO private wealth, said: “Our clients – being US nationals, often married to non-US nationals – have very specialist requirements in order to comply with US taxes and regulation together with multi-jurisdiction custody requirements. We needed an integrated front and middle office application to provide them with the highest quality objective recommendations and consolidated on-line reporting. With tercero, we have comprehensive portfolio management tools to offer our clients exceptional, personalised services with transparent pricing.”

Prior to selecting Third Financial, MASECO relied on manual processes and its custody providers, which involved accessing and working with up to seven separate systems. MASECO required a solution that would offer users better management and control to support increasing client volumes.

Following extensive evaluation of more than 10 vendors, MASECO selected Third Financial due to its integrated platform and the company’s ability to deploy the system around its specific requirements for US families and trusts. tercero Wealth Workstation is now live and operational at the firm’s offices in London, Zurich and Geneva. The system is currently used by all 21 staff.

tercero Wealth Workstation provides MASECO with an integrated front and middle office wealth management platform, which includes CRM, document and portfolio management and online access for clients. It additionally offers specific portfolio accounting options for its US clients.

Gary Linieres, a founding director of Third Financial, added: “By providing MASECO with an integrated and intuitive platform, they can not only offer high quality online reporting to their clients, but most importantly achieve operational efficiencies through automation. Effectively the firm can scale without incurring additional staff costs. MASECO is our first client that specialises in the US and US expat market and demonstrates our platform’s ability to cater for specific client needs.”

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