CASE STUDY

Cygnet Wealth Management

Prior to implementing FE Analytics, Cygnet’s advisers did not have a huge amount of data to share with clients. Once they started using the new solution however they had access to much, much more and clients loved the additional information they were getting - and the way it was presented.

09 July 2019


High quality information for client review and suitability reports

Prior to implementing FE Analytics, Cygnet’s advisers did not have a huge amount of data to share with clients. Once they started using the new solution however they had access to much, much more and clients loved the additional information they were getting - and the way it was presented. James has found the ability to cut and paste graphs and charts to include in review and suitability reports particularly useful.

He also appreciates FE Analytics’ ability to perform individual client portfolio comparisons and measure these against blended portfolios with regard to risk and volatility. This is an important capability for Cygnet. And it has been well-received by clients too.

“We might want to move a client to a sample portfolio. FE Analytics allows us to compare that against what they have - and to track histories. It’s really valuable to be able to compare old versus new. We can ‘share the journey’ of these portfolios with clients. It’s a very visual way of putting our message across. This is probably the most important reason for us using FE Analytics’ reports,” says James.

FE fundinfo risk scores: “resonate with clients”

The ability to blend client portfolios to get an overall FE fundinfo risk score is particularly useful to Cygnet. “It’s very important that the client understands the level of risk and volatility they’re going to experience. It’s easy to depict this graphically, but the overall FE fundinfo risk score also resonates with our clients.”

Cygnet’s investment proposition is to use multi-asset funds or blended single managers that are either OBSR or Square Mile rated. FE Analytics allows Cygnet to filter through these funds.

James’ main focus is on developing business with existing clients.

“We take on very little new inflow. Most of our business is from ongoing services; from adding to existing portfolios. We are keen not to dilute the service levels we are giving current clients.”

FE fundinfo email alerts: “really, really helpful”

While admitting that Cygnet still doesn’t use FE Analytics to its full potential, James is keen to take advantage of new capabilities. Recently, Cygnet has opted to receive email alerts for funds. These are triggered in the event of, for example, a fund manager leaving or a rating change. “We need to keep track of fundamental changes to the structure of the fund; it is important to track management changes – to know if a team leaves or if inflow stops,” he says. “These are the changes we need to know about so we can make clients aware and then take action if appropriate. The alerts from FE fundinfo are really, really helpful. It means we don’t have to keep trawling through all the fund news ourselves. It helps us to keep on top of things.”

And James has been very happy with the support received from FE fundinfo: “Whenever we have had to ring the FE fundinfo team with a query, we are put straight through to someone who can give the answer right away - and navigate us through it.”

Summary

FE Analytics has enabled Cygnet to tailor reports for clients depending on how much detail they want to see. Some like to “get under the hood” with lots of information; others just want a graph showing performance. “Our aim is to get them interested in what’s happening to their money,” says James. We try to keep advice to clients clear, concise and appropriate. FE Analytics allows us to do that – whatever their appetite for information.”