BITA Risk has formed a partnership with First Rate to offer risk, portfolio analysis and enhanced portfolio modelling tools to wealth management firms across the world.
As per the agreement, First Rate’s ex-post performance, risk and attribution data in addition to client reporting will be made accessible through BITA Risk’s portfolio management solution, BITA Wealth.
In return, BITA Wealth will be made available to First Rate’s customers through their current channels.
Additionally, all BITA Risk clients will be able to generate performance and client reporting statements through BITA Wealth using the real-time First Rate APIs.
BITA Risk global head Daryl Roxburgh said: “We believe that it will be a step change to be able to bring the opportunity of full GIPS compliant performance analysis to our clients.
“The combination of First Rate’s ex-post and BITA Risk’s ex-ante gives the manager a clear view of where their clients have been and where they are going, together with BITA Risk’s portfolio analytics to help them understand why.”
The partnership will also allow the First Rate clients to access ex-ante analytics and ‘what if’ analysis, risk profiling, proposal generation, portfolio monitoring against IPS, policy or model in an enterprise view.
It will also enable the clients of both the companies to assess and monitor ex-post performance, risk and analytics determined by First Rate with the BITA Wealth user experience.
First Rate managing director of global Deborah Repak said: “Firms will be able to access our combined solution through First Rate service bureau or other outsourced providers, First Rate managed hosting service, or via a deployed solution, catering to the firm’s individual needs.
“We are already working together on our first mutual client and see a great opportunity in bringing First Rate and BITA Risk platforms together in a way that benefits wealth management professionals.”