New York business-to-business robo-adviser MyVest has introduced a service allowing clients to outsource middle-office functions, such as daily trade reconciliation, corporate actions processing and cash management. MyVest, which is owned by retirement-focused financial services provider TIAA, said the system will make reporting and billing easier for advisory clients and facilitate expansion of middle-office functions. The introduction of the service comes at a time when the investment management industry is focusing on ways of automating advisers' workflow.
US business-to-business robo-adviser MyVest has introduced a service allowing clients to outsource middle-office functions, such as daily trade reconciliation, corporate actions processing and cash management. MyVest, which is owned by retirement-focused financial services provider TIAA, said the system will make reporting and billing easier for advisory clients and facilitate expansion of middle-office functions. The introduction of the service comes at a time when the investment management industry is focusing on ways of automating advisers' workflow.