Providing professional trustee services has never been more challenging. Working with different entities from and in multiple jurisdictions means constant changes of reference and direction. Continuing changes in the regulatory environment add to the complexity. Potential liabilities for trustees seem to be everywhere.
Trustees do the best for themselves, their beneficiaries, settlors and other stakeholders if they have all relevant information immediately to hand in all situations and make the right decisions for the right reasons.
Fidusys Online provides fiduciary decision-makers and their support teams with an infinitely flexible system designed for the current challenging environment.
Recognising that the environment for fiduciaries has outgrown the current administration led approach, Fidusys Online has developed a platform that approaches family office management from a completely different direction.
Instead of an administrative, bottom up approach, Fidusys Online works from the top down, so that every action taken and each decision made in any context is supported by all relevant information and guidance, and is also immediately visible and auditable.
Fidusys Online provides family office executives with a flexible tool that provides any chosen level of transparency and engagement for each member of the family.
Family owned businesses need to engage with multiple stakeholders. Fidusys Online provides a tool for business management that reconciles the frequent conflict between the business getting on with business and the family allowing that on an informed basis. Different access rights can be granted and different views created for any family owned business, facilitating appropriate engagement by anyone from anywhere in the world on any device. At the same time selected live information can be shared to any level with anyone.
Wealth managers have to contend with a raft of regulation from on-boarding of new clients, suitability checks and KYC to US and UK FATCA. Unfortunately many firms have deployed technology as a solution, but utilised a different technology for each separate regulatory thread. The result can be major issues of efficiency and reliability in relation to the collection, validation, consolidation and use of data.
The significant overlap in information required for multiple regulatory compliance purposes provides an opportunity to align processes and create a single source of truth for client data.
Fidusys Online is infinitely flexible and can replace multiple data silos and a legacy approach to managing regulation with a single coordinated view of all client related issues. Fidusys Online enables wealth managers to create a system that will meet not only their present needs but is also easily adaptable in-house to meet future challenges.
Charities need good governance now more than ever. Trustees need to understand the issues and opportunities that face their charity when making decisions that affect it. To do that they need access to reference materials and ordered records together with full details of beneficiaries, resources, risks and even potential conflicts.
Fidusys Online pulls together all these threads and facilitates informed decision-making by trustees anywhere in the world, also creating a clear audit trail including reasoned decisions and an automatic minute book. Key information relevant to any decision is displayed for decision makers as part of the decision-making process and automatically retained as part of the charity's permanent record. The system can be configured to manage tasks and create records for donors, projects, beneficiaries, key risks and much more, all linked together and available through intuitive displays.