Updata Portfolio Administrator

The Ultimate Portfolio Management System

The new requirement to reconcile stock positions each 25 days (COB 9) has been one of the most difficult challenges to meet. Again, Updata has designed and written a completely new module, wrapped closely around the COB requirements, but designed also to be easily operable in the real world under both time pressure, and across a range of different types of holding and media. The first step, automated electronic reconciliation against CREST records was achieved quickly, and the addition of portfolio categories deals with issues of multiple nominees, and segregation of Clients assets from “Firms Own” in an efficient and orderly manner. More taxing is the issue of non-CREST holdings, Certificated holdings, third-party/sub custodians, and other media. Portfolio Administrator introduces the novel concept of “aged reconciliation”.

Where evidence of holding, such as a unit statement, appears within 182 days, its age is simply refreshed. Records approaching the COB time limit are flagged for individual attention, but trial experience suggests that this normally arduous task can be reduced to a few minutes work a week. In effect, the system combines elements of “total count” and “rolling” reconciliation methods. With the capability, once again, to produce either electronic or paper audit and reconciliation records, the process can be almost entirely paper-free. We suspect many professional users may be attracted to the reconciliation module in its own right!

Updata Portfolio Administrator has completely transformed the way our firm manages client portfolios. We would easily need to employ twice as many people without it.

“The client reporting features in Updata are excellent. They enable us to produce accurate and clear reports on request and are a great benefit in terms of demonstrating our efficiency and professionalism. This in turn helps us secure new clients through recommendations from satisfied customers.”   

Kevin Bland, 
Atkins Bland, Independent Financial Advisors 

“We use Portfolio to manage our clients’ investment records.As Tax Consultants, Offord Fenning & Associates appreciate Portfolio’s unrivalled ability to maintain transaction histories and to calculate the CGT impact of a transaction.The system can also calculate various ‘what if’ scenarios when considering share transactions to help plan for minimising future tax liabilities.” 

Offord Fenning, 
Offord Fenning & Associates, International Tax Specialists

 “The accuracy of the CGT computations is what we like. We use the CGT ‘what if’ scenarios to assess a situation where we are considering a sale on behalf of a client. The gains due report shows us how well placed the client is from a CGT perspective and provides all the information on tax we require for the end of the financial year. This highly complex area of taxation is very time consuming to work out manually and Portfolio can quickly provide figures using all the relevant legislation for even the most complex CGT situation.”  
 
Paul Tobias, 
HartBrown, Solicitors  

“We particularly like the CGT taper relief reporting, which automatically allocates any losses to a client’s advantage. We have found that a number of capital gains reports produced by other market professionals fail to do this correctly”  
 
Graham Baldock, 
Lonsdale & Marsh, Chartered Accountants   

“The Updata Portfolio system is simple and robust to use. Its highly flexible client portfolio management offers detailed records and a customer database that is easy to manipulate. The reporting functionality is clear and easy to understand enabling us to quickly assess exactly where client money is invested with a top down view showing our overall client exposure, an essential feature that we have not found with other systems. We use the Portfolio system for its great analysis capabilities as well, designing client reports and our own internal reports highlighting our share selection criteria, stock comparisons and potentially attractive investment opportunities. There is a wealth of data available in the system for us to manipulate giving us control over managing investments and clients. The Updata Portfolio product is very comprehensive and affordable for a medium sized firm. An incredibly good workhorse that I can run my business around.” 
 
Richard Ollis, 
First Capital Management, Fund Management