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  • Writer's pictureMartin Wik Sætre

Sparebanken Vest user story: "Integrated Compliance"

Two colleagues discussing something written on a whiteboard

Over 200 advisors in SPV bank have been working with Quantfolio Advisory Platform since this Easter. Now we can share some early results from their experience with our solution.

Starting with the standalone advisor tool.

The first phase of the delivery to SPV was focused on getting their 200 investment advisors up and running on a new advisory solution. The scope for phase 1 was limited to a standalone solution without integrations, which was a clever move to avoid complexity and risk. SPV has decided to use some of Quantfolio’s high-end backend functionality, by optimising their portfolios and factor based selection for the funds, built on SPV’s investment philosophy and rules. In combination with the possibility for an investor to choose certain themes into their portfolio, SPV has taken large steps towards providing customised advice without compromising compliance and control.

The first real result was that the platform gave the advisors the confidence they needed to talk about investment with clients. In their own words, “it has become easy to take the customer through the advice session and the recommendations come across well. It is also very reassuring knowing that compliance requirements are fulfilled automatically.

Compliance-first wealth advisory.

Compliance was also front and centre in the feedback we got from Morten Oehme, Head of Savings and Investments at Sparebanken Vest: “From my perspective, there are several benefits why it was definitely worth to get Quantfolio Advisory Platformas our advisor tool. The first one is control. We perform internal control as well as external, and it is dramatically easier to keep control in Quantfolio Platform than in the old systems that we used. Now you can open the case, see all the steps, everything is saved. As soon as the plan has been generated, everything is in order and compliant.”

“The main difference of the advisor solution from Quantfolio is that the system kind of holds the advisor by the hand and guides them all the way. As long as you fulfil all the steps, you do get a good result and the job is done. It is a very good feeling to have a streamlined flow and clear steps,” adds Morten.

Saying yes to user-friendly wealth advisory solutions.

Collaboration between SPV and Quantfolio actually started with a “No“. SPV had chosen another system provider and ordered a product that was supposed to be similar to Quantfolio Advisory Platform. However, the project was delayed. “We got stuck, because the delay in delivery was over a year, it was developed in India, they did not manage to deliver, there was constant back and forth like ping-pong, communication was hindered by the language barrier… it was hard.” - Morten Oehme shares his frustration.

So, SPV decided that they wanted a new conversation with Quantfolio and the ball started rolling. After Easter 2022, 200 advisors were introduced to the new tool. 

After the advisors have been working with Quantfolio Advisory Platform for some time, we gathered feedback from them.

The first response was how easy it was to use one tool for all and get the client through the advice session: “We used to have another advisor tool, but it was rather non-intuitive, there were just advisor elements that printed out a report that the customers did not quite understand. There was also an enormous amount of manual work before an advice session. The advisors had to fetch multiple documents from many places, so the logistics of it was just horrible.”

The other key difference is user friendliness. Next up, more integration features will be in place and the process will be even more seamless for the advisor and the customer. 

We are very happy to be a long-term partner for SPV.


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