#United States #New York #Fintech #Wealth Management #OneVest

OneVest Expands Multicurrency Capabilities

In a significant move for wealth management, OneVest, a prominent fintech company, has unveiled expanded multicurrency functionalities within its global wealth operating system. This latest enhancement aims to streamline processes for wealth managers, registered investment advisors (RIAs), and banks, enabling them to manage clients with international assets and diversified portfolios more effectively.

The Need for Multicurrency Support

As wealth management professionals increasingly navigate various regions, currencies, and regulatory frameworks, the necessity for an advanced multicurrency system becomes clear. OneVest's updated features equip advisors with the tools they require to handle complex client relationships seamlessly through a single, unified platform.

Key Features of the New Multicurrency Functionality

The enhancements allow firms to transcend previous limitations, particularly in accommodating international clients. Below are some notable features:

1. Expanded Currency Coverage
- In addition to the existing support for USD and CAD, OneVest will introduce support for major currencies such as EUR, GBP, AED, and JPY.
2. Currency-Aligned Reporting
- Performance measurement and reporting will automatically adjust according to the client's preferred base currency, ensuring consistency and clarity.
3. Multicurrency Billing Operations
- This feature streamlines billing and fee calculations across new currencies, minimizing manual input and enhancing accuracy.

According to Amar Ahluwalia, CEO and Co-Founder of OneVest, as professionals begin operating beyond their home markets, the demand for a system that seamlessly adapts to changing client needs increases. He notes, "These moments, when clients relocate or inherit foreign assets, demand a platform that can keep pace without disrupting existing operations."

Streamlined Cross-Border Management

The enhanced multicurrency framework supports various aspects of global wealth management, encompassing every phase from onboarding to account servicing and ongoing reporting. Some of the key benefits include:

• - Consistent Client Statements: Clients will receive statements in their selected base currency, ensuring coherence across all interactions.
• - Simplified Account Management: Advisors can support clients with both domestic and international assets without the need to change existing systems or workflows.
• - Reduced Operational Risk: Standardized currency treatment across all aspects of reporting, billing, and reconciliation is implemented to minimize discrepancies and streamline operations.

Nathan DiLucca, Chief Technology Officer at OneVest, emphasized the importance of integrating these new currencies directly into the OneVest platform, stating that institutions should not have to rely on external plug-ins or separate systems to manage currency exposure. This enhancement provides a more reliable, centralized means for institutions to expand their global portfolios.

The OneVest Advantage

With this latest update, OneVest continues to position itself at the forefront of the industry by offering:

• - Modular and Scalable Architecture: Designed for multi-regional support, enabling firms to configure their solutions according to diverse market demands.
• - Unified Experience for Advisors and Clients: The platform tailors user interactions for both advisors and clients, enhancing efficiency and satisfaction.
• - Dynamic Workflows: These workflows adapt based on current regulatory and operational requirements, ensuring compliance and operational integrity.
• - Fast Time-to-Market: This feature allows enterprise firms expediently to adapt and serve new geographies.

About OneVest

OneVest stands as a transformative force in fintech, modernizing wealth management through an integrated, modular platform. Recognized for its innovative approach, the company streamlines various functions from onboarding to portfolio management, thus enhancing the overall client experience. With a focus on open architecture and microservices design, OneVest allows financial institutions to tailor solutions that align with their unique needs, ultimately delivering a seamless advisor and client experience.

To learn more about OneVest and its innovative offerings, visit www.onevest.com.

Conclusion
As the financial landscape becomes increasingly interconnected, platforms like OneVest are crucial for wealth management institutions looking to provide effective services across borders. With enhanced multicurrency capabilities, advisors are equipped to serve the evolving needs of global investors more adeptly than ever before.