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Fiserv Wealth Management Network

Fiserv Wealth Management Network

Overview

What is Fiserv Wealth Management Network?

The Wealth Management Network from Fiserv is an expansive networks of managed account data and connectivity. It brings together asset managers and sponsors to perform all necessary business functions to support the industry. The Network includes messaging services, information exchange,…

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Recent Reviews
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Pricing

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Fiserv Wealth Management Network

Fiserv Wealth Management Network

N/A
Unavailable

What is Fiserv Wealth Management Network?

The Wealth Management Network from Fiserv is an expansive networks of managed account data and connectivity. It brings together asset managers and sponsors to perform all necessary business functions to support the industry. The Network includes messaging services, information exchange, and managed…

Entry-level set up fee?

  • No setup fee

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services

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Product Details

What is Fiserv Wealth Management Network?

Fiserv Wealth Management Network Technical Details

Operating SystemsUnspecified
Mobile ApplicationNo
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Comparisons

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Reviews and Ratings

(3)

Reviews

(1-2 of 2)
Companies can't remove reviews or game the system. Here's why
June 02, 2022

All in one for financials, but can become costly!

Verified User
Team Lead in Engineering
Financial Services Company, 5001-10,000 employees
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Use Cases and Deployment Scope
Helps us make new payments and also refunds for the clients and projects. This product helps us load bankruptcies and send files to attorneys. They host all of these services in offsite datacenters that we have direct circuit connections to. Handle the back end for all of our account transactions, opening new accounts, transfers, etc.
Pros and Cons
  • R&D is fantastic as they have the resources
  • Online resources to help figure things out
  • Easy to navigate
  • The Access Manager module is a little bit outdated
  • They like to charge you for every small thing
  • Intermittent issues with their circuits going down
Likelihood to Recommend
They offer almost every single thing a financial institution would need for their core business allows you to save quite a bit of money by bundling everything together. Fiserv has greatly increased the speed in which they roll out new banking product. From a banking software platform, they are the best in the business.
Most Important Features
  • Multitude of features
  • Speed of rolling out new products
Return on Investment
  • Add ons for what they say the product can do is very expensive or you have to do a lot of things manually
Alternatives Considered
Far superior in my opinion. More features, easier to navigate and superior customer service.
June 01, 2022

Fiserv Wealth Management Network improves reach, strengthens partnerships and optimizes efficiency, allowing us to stay competitive in the constantly evolving financial services landscape

Verified User
Professional in Information Technology
Financial Services Company, 201-500 employees
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Use Cases and Deployment Scope
The main way we use Fiserv Wealth Management Network is by leveraging their Asset Manager Connect product which is bundled with their messaging services and data services. This allows us the benefits of having a single pane for interacting with different account partners including real time data entry, consolidated reporting across managed partners and the capability to broadcast unified account specific communications across those engagements.
Pros and Cons
  • has an extensive network that integrates with a large majority of managed account partners in real time
  • consolidates access to portfolio tools and reports across partners
  • Automates messaging and notifications
  • Cost ... it's definitely not the cheapest option out there. the way pricing is itemized and a separate upcharge for each add-on gets annoying. They can probably bundle things a little better and offer a discount on the bundled products
  • the volume of system updates and changes is nauseating at times and we have to prepare and test accordingly every time there is a scheduled update. that takes up a lot of resources; quarterly updates to products would be much easier.
  • more responsive support and ideally more stable support engineers ... it seems like turnover is high in their support roles and that impacts customer success and MTTR.
Likelihood to Recommend
Fiserv Wealth Management Network is well suited in scenarios where an organization has multiple financial services providers and would like the benefit of tying that all together and managing it from a single, unified solution. The benefit there is increased efficiency and productivity, especially when compared to the manual alternative of having managers log in to separate sponsor platforms.
Most Important Features
  • Asset manager connect which provides a single pane of interaction to multiple managed accounts / platforms
  • Messaging services ... similar to asset manager connect but with respect to unified account comunications
  • Data Services that enable real time entry and reporting functionality across partners
Return on Investment
  • Speed of service is greatly improved across partners. I believe our MTTR for service requests has improved by 30-40%
  • Standardized platform for our staff which translates to better retention and a lower training effort.
  • Cost is the negative impact ... it goes without saying that using Fiserv is much more expensive to the manual alternative which is very human resource intensive but low cost. But that's to be expected ...we're just trading time for money.
Alternatives Considered
I can't name any other competitors that we considered because I have signed multiple NDAs that prohibit me from doing so.

I can say that the decision to go with Fiserv WMN was in large part because we have other Fiserv Products and as a result, we already have a strong established relationship with Fiserv (and First Data for that matter, before they were acquired by Fiserv).
Other Software Used
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