How Strand Kapitalförvaltning enhanced efficiency, compliance and client satisfaction by implementing Sharpfin Wealth Management Suite.

Strand Kapitalförvaltning, a leading Swedish wealth management firm, significantly enhanced efficiency, compliance and client satisfaction by implementing Sharpfin Wealth Management Suite (SWMS).

Learn about their transformative journey from operational inefficiencies to strategic excellence.

Operational challenges hindering growth

Previously, Strand faced several operational challenges that impeded its growth and client satisfaction. The reliance on manual processes, such as transaction entries and daily file transfers, not only increased the risk of errors but also delayed crucial tasks. Quarterly fee management and report generation were labor-intensive, diverting the team's focus from strategic objectives like business expansion and improving client relations.

Inefficiencies within the organisation diverted focus from strategic goals like client satisfaction and business growth, says Frida Emanuelsson, COO at Strand Kapitalförvaltning.

The strategic shift to Sharpfin Wealth Management Suite

In pursuit of operational excellence, Strand partnered with Sharpfin to adopt its comprehensive wealth management solution. Sharpfin Wealth Management Suite (SWMS) offers an all-encompassing platform supporting various aspects of wealth management, including client onboarding, portfolio management, and risk assessment.

This partnership marked a pivotal shift towards automating and streamlining processes, thereby aligning with Strand's strategic goals, says Frida Emanuelsson, COO at Strand Kapitalförvaltning.

Identified the problem of the need to automate and streamline the organisation: 

Strand embarked on a journey to automate and streamline its operations by implementing Sharpfin Wealth Management Suite (SWMS). The decision was driven by Strand's trust in Sharpfin's team and the user-friendly interface of SWMS that promised a seamless process from onboarding and trading to reporting. The implementation of SWMS allowed for real-time updates, automatic fee calculations, and the elimination of manual report generation.

The process improvements were mapped, highlighting the transition from manual to automated processes, particularly in transaction entries and fee management. This transition enabled Strand to allocate resources more effectively towards analysis and customer satisfaction, says Frida Emanuelsson, COO at Strand Kapitalförvaltning.

Key benefits and improvements:

• Transaction entry and daily updates: Automation of transaction entries and daily updates eradicated the need for manual file transfers, reducing risk of errors significantly.
• Improved client service: The inclusion of Strand's advisory process into SWMS, along with a client portal, elevated client communication and service.
• Increased reliability and speed: The system's reliability and quick processing capabilities allowed for faster report generation and efficient transaction management.

Why Strand chose Sharpfin (SWMS) over competitors

Strand's decision to select Sharpfin over alternatives was influenced by the personalised support, the inefficiencies and need for in-house IT-support noted with previous systems, and the seamless integration of their advisory process with SWMS. The user-friendly interface and the fact that the system operates without the need for dedicated in-house IT-support solidified Strand's decision.

The impact of operational efficiency on growth

The implementation of Sharpfin Wealth Management Suite translated into tangible benefits, including a 100% increase in client management capacity without additional overheads. A direct correlation between operational efficiency and cost savings, emphasising the firm's ability to scale its client base significantly without incurring extra costs.

Efficiency directly translated into cost savings and scalability, allowing for a 100% growth in client onboarding capacity without extra expenses, says Frida Emanuelsson, COO at Strand Kapitalförvaltning.

Setting a new standard in Wealth Management

The implementation of Sharpfin Wealth Management Suite has been a game-changer for Strand Kapitalförvaltning, fostering remarkable improvements in efficiency, compliance, and client satisfaction. By automating previously manual processes and leveraging a robust, user-friendly platform, Strand has set a new benchmark in the wealth management industry, positioned for sustained growth and enhanced client satisfaction.