Wealth management consultancy Alpha FMC has launched a new data solutions division to meet growing client demand for consulting advice and data services.
The company said that the new unit will boost asset managers’ data management capabilities so as to lower operational and compliance risks.
At the same time, the company has purchased Track Two, a Frankfurt-based data solutions and consulting firm set up by Stefan & Alex Maszynski in 2005. Financial terms of the transaction were not undisclosed.
The takeover will help the firm’s newly launched division include Track Two’s 360 SalesVista data services offering. The service enables asset managers to match transactions and holdings data to the client and product master.
Alpha FMC global CEO Euan Fraser said: “The disintermediated nature of asset management means that data is ‘messy’. It is complex, volatile, diverse and much of it is provided by third parties. It is therefore difficult and expensive for clients to pull together a complete picture of who has invested in its funds and who exerts influence over those investment decisions.”