30 Sep Asset Management Firm Claret joins Croesus
Montréal, Québec, September 30, 2019 – Croesus, a leading provider of portfolio management solutions, announces its first business relationship with an institutional client, Claret, a firm specialized in portfolio management services for high-net-worth private investors.
Founded in 1996 in the heart of Montréal, Claret now has close to forty employees in Montréal and Toronto. Its client base is composed of investors seeking discretionary management, and the firm manages $ 1.7 billion in total assets for over 1,000 clients (family units).
As part of the agreement between the FinTech Croesus and Claret, several modules and functionalities from the all-in-one software will be leveraged. The implementation, which took place in April 2019, allows the firm to take advantage of the considerable performance and reliability of the client portal, Croesus Investor, the compliance and risk manager, and APIs. It will also help the firm ensure that it reaches its clients’ goals using performance calculations, report generation, rebalancing, and the creation of models based on a unified management account (UMA) or separately managed account (SMA) strategy.
“Claret is very pleased to be converting its Portfolio Management system to Croesus – a long and well-established Canadian FinTech that has a reputation as a market leader and innovator in the portfolio management, client reporting, model creation and performance analysis space. This new relationship will allow us to be more productive, more effective and most importantly, it will allow us to better serve our clients,“ said Monique Gravel, Chief Executive Officer at Claret.
As well as leveraging the use of the most powerful and reliable portfolio management software on the market, Claret will benefit from the support of Croesus’s professional services to facilitate the implementation process, from contract signature to final delivery.
“We are convinced that this partnership will be enriching for both our firms. Similar to Claret, Croesus aims to offer the highest quality service to its clients. Claret can count on our support and expertise to achieve their business objectives in the asset management space,” stated Croesus President, Mr. Sylvain Simpson.
“It is essential for us to collaborate with a technology partner that understands the complexity of our business, the changing face of regulation, the rapid development of technology, the broad and diverse nature of investments and, of course, the essence of client communication in both official languages,“ added Mrs. Gravel.
Founded in 1987, Croesus is a FinTech offering cutting-edge, easy to use, and highly secure wealth management solutions. With over 180 employees in Montréal and Toronto, the Canadian leader draws on expertise and know-how to provide products and services tailored to the needs of the financial services industry. Its portfolio management solutions and application programming interfaces (APIs) maximize performance, and its data analytics tool allows financial services professionals to make informed decisions. Through the years, Croesus has won several awards as a high-quality product vendor, as well as an employer of choice. In 2019, Croesus acquired softTarget, a company specializing in portfolio rebalancing, whose flagship software iBalance is being integrated with its sophisticated solutions offering.
Vice-President, Business Development and Strategic Partnerships