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 company also announced that it plans to launch an online platform in early 2016 where customers can access their own data from its existing customer base including information on how much they are paying each month per
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.