Automate away your burdens: managing retrocession and trailer fee calculations can often be an extremely time-consuming and tedious task, with no guarantees that the final number is accurate. However, with so much riding on a correct figure, it is vital that retrocession payments are processed and managed properly.
Have more questions? Take a look at this interview with our Retrocession Product Manager!
There are multiple ways that ratesets can be defined. For example, the user can choose between different periods, products and clients, allowing one EAM to have more than one rateset for all their needs.
Users of our retrocession tool can be assigned to different roles which grants them different access levels. The level of access and specificities of each role can be defined and fully customized by the firm. Some standard levels of access are:
Our retrocession tool makes viewing transactions easy.
The user is able to generate retrocession reports, which will be sent directly to the EAM. This report includes summary information, such as the amount of retrocession by product, quarter, and customer information, as well as detailed information based on the transactions conducted.
Yes! Once the retrocession report has been approved by the final approver, the report can be automatically paid off via an integration with Privé's APIs.
Of course! On the External Asset Manager (EAM) level, the user is able to manage automatic tax deductions and toggle between ‘on’ or ‘off’, as well as set multiple tax rates for different jurisdictions.
There are many different reasons as to why using a professional retrocession tool is more beneficial than the ‘traditional’ way, but it all boils down to efficiency and transparency. With retrocession being a crucial part of any financial institution, these two points are of the utmost importance. With Privé's retrocession tool, the user can enjoy
Approval levels are fully configurable by the user. However, there are usually two different approval levels for the ratesets, manual fees and reteocession reports individually, to reduce the likelihood of mistakes. A typical use case typically flows as follows:
Privé's retrocession tool provides a robust and diverse set of analytical tools for the user. In the retrocession report, the user is able to observe:
Currently, the retrocession tool supports the following product types. However, more functionality can be added according to the user’s needs:
About Privé Technologies:Founded in 2011, Privé Technologies is a leading Software as a Service (SaaS) provider digitizing wealth management services of Banks, Asset Managers or Insurers. Our suite of products spans from client acquisition, digital onboarding and robo-advisory solutions, to portfolio construction, AI optimization, portfolio management (PMS), portfolio monitoring and reporting, to account aggregation, and more. Our lego block approach allows clients to choose and assemble unique journeys using Privé modules to suit their individual needs, such as fully digital Advisor-led wealth management journeys or end-to-end robo-advisory solutions. Privé Technologies services over 70 blue-chip clients across 16 markets globally and currently has offices in Hong Kong, Singapore, Taiwan, South Korea, Thailand, Germany and Austria.Contact AsiaRutul GandhiChief Revenue Officer, APACsales@privetechnologies.comContact EuropeRené DanzingerHead of Marketing & PRrene.email@example.comDISCLAIMER: This press release is for information purposes only. Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Privé does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Privé and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages. Privé assumes no obligation to update any information contained herein.