Leon Capital Turns to BRITech to Streamline Supporting a Wave of New Client Growth
Leon Capital is a wealth management company with operations in Mexico City and Monterrey. Founded in 2019, Leon Capital operates and manage different funds for HNW individuals, and has full securities and regulatory commission approval.
At a Glance
After a few false starts, the company realized that a team with industry experience and customizable platform would be the ideal solution to sustain their growth
About León Capital
Leon Capital is a wealth management company with operations in Mexico City and Monterrey. Founded in 2019, Leon Capital operates and manage different funds for HNW individuals, and has full securities and regulatory commission approval.
Benefits:
•Centralize all information sources into reporting and dashboards on one display
•Leverage timely data of operations and positions to build an accurate picture of what a portfolio is doing and facilitate informed decision-making and responsiveness
•Leverage pre-built precision calculations and financial reporting to double-check against the information provided by brokers
•Share explicit internal metrics like a breakdown of trading fees, management fees, client retention, and other metrics on operations
•Gain a centralized display of positions, including different brokers, which is valuable to the clients who can see different contracts for different brokers in one platform
•Reduce time consumption in the reporting process
Details (An Interview with Roberto Barba)
We sat down with the Roberto Barba, Managing Partner of Leon Capita, to discuss the challenges they faced as a company and how their specific goals and needs led them to BRITech and a successful outcome.
What challenges were you facing that prompted you to look for a solution?
“We had many obstacles along the way. In our operations, we found it hard to cope with the growing number of clients we were managing and supporting their reporting processes. We were spending a lot of time in financial reporting, period-to-period, for each of our clients. And when we started experiencing a substantial increase in the number of clients, we were finding it difficult to cope with the additional workload. We also didn’t have a solution to centralize information, in terms of positions, transactions, tax accounting, etc. – which would support better decision-making in the investment process. We needed to make sure we had the means to support our growth. That’s what led us to search for a better solution.”
How did you approach finding the right solution for your needs?
“The company tried a few different options that were not satisfactory. First, we tried solving this with outside software developers but did not have a very good experience. It required a lot of time from our team, and they (the outside team) still failed to deliver on the objectives. They were not experienced in the wealth management environment, so it was difficult for them to help create the right solution for us. We then tried using our in-house software developers. With this team, we managed to achieve some of needs that we had but with a new challenge. The internal team found different solutions for each of the processes we needed, but separate from one another, compartmentalized, siloed—which limited our cross-visibility and flexibility in reporting. The main objective was to reach a solution that it could centralize all the information in one screen/display, one software platform, one version of the truth. For those reasons, we needed to find a new solution.”
What made BRITech rise to the top of the list of solution providers?
“We had a very good start with BRITech; clicked right away with their team. To begin, we recognized that BRITech had great knowledge and experience in the wealth management environment – which meant we would not have the same risk we had with our previous external vendor in terms of creating reporting, the way to calculate performance, different metrics, different displays and financial ratios and measurements. BRITech already had the platform for different assets, with everything in just one place. We understood that BRITech’s solution was very comprehensive and would very likely be the solution we needed to meet our requirements. And, of great importance to us was their team – the people behind BRITech who are very accessible and provide us with great support. Finally, when we benchmarked BRITech against their peers in terms of package and pricing, it was accessible too for us—the right combination of price and value.
All of these reasons combined together to make it obvious to us that BRITech was the leading choice.”
How was the implementation process?
“It was very straightforward, very practical. We had a demonstration; we saw the system beforehand. We could see all the models included, different instruments, asset types, and all the financial reporting. Obviously, it was not customized to our experience, but it was—in very general terms—exactly what we needed. Being able to pre-test and already see the development we were expecting was very helpful, and very practical. It was very easy to make the decision and see that it was very close to what we needed. Implementation was a very easy process—it didn’t involve a lot of work. We defined the objectives so that everything was clear—for BRITech and for us. We spent time in the in-depth planning process. And everything was good in terms of the time delivery, on our mutually agreed-upon schedule. It was crucial that the BRITech staff was very available/accessible in terms of our time constraints, which all worked out very well. Sometimes, during the implementation, there were unexpected issues that arose.But we were able to work through them with the BRITech staff, in every case, with a quick response on their side – a good experience for us all around.”
Since implementation, what benefits has BRITech delivered to both Leon Capital and its customers?
1.Having the centralized information we have now is crucial both to the team and our clients.
2.Also, timely data of operations and positions is essential for clients and for us—providing a critical picture of what a portfolio is doing, your positions, how is it trading, etc.
3.And having timely information, in our role as decision-makers, is very important; giving us the time to react to each situation.
4.Also, the precision calculation and financial reporting is invaluable – and serves as a double-check against the information provided by brokers which may occasionally have mismatch.
5.With the BRITech system, we have explicit internal information—a breakdown of trading fees, management fees, client retention, and other metrics on operations—which is of huge benefit to the client.
6.One of the biggest benefits is having a centralized display of the positions, including different brokers, which is valuable to the clients who can see different contracts for different brokers in one platform—with all information in one place.
7.Also, in general, the time consumption in the reporting process has decreased, which is a great benefit for our company.
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