Processing corporate actions can be tricky and a major bottleneck in finishing the reports.
Have you ever forgotten how to handle corporate actions in your Advent system and find yourself calling for help?
You ask your team, and they are:
And making mistakes is costly.
It’s estimated that $1 billion is lost every year through mismanaged corporate actions events.
And regulators can slap investment firms with heavy fines (up to $3 million per incident) for misreporting transactions, intentionally and unintentionally.
Have you found yourself in those situations, doing daily reports and hoping you don't encounter corporate actions? After all, you want to finish the work quickly and without hassle.
We totally get it, and we make things easier for you.
Whether you're using Axys, APX, or Geneva, Empaxis has developed a deep expertise in Advent software since the day our company was founded. Our leadership team consists of former Advent SS&C employees and experts on the platforms.
We are more than capable of handling the various corporate actions:
But we know there's a lot more that goes into it that you'll need.
Not only do we process the corporate actions, we send notifications when they're finished.
It's standard practice for us to initiate bringing these changes to our clients' attention.
It's not just about performing the corporate actions themselves.
To even do that, you need the custodian data, and it has to populate in to your Advent systems properly.
We have years of experience leveraging APIs and integrating Advent with Schwab, Fidelity, Pershing, BNY Mellon, among other custodians, brokers, and banks.
So, we make sure the data comes in the right format and populates the right fields.
Only then can corporate actions and all daily reporting get done.
The software has to be kept up to date, and the data must be regularly checked for quality assurance.
The Security Master file, pricing, positions... everything has to be accurate.
Empaxis takes ownership of all that, as we have a ton of experience working with Axys & APX.
If there is troubleshooting or new implementations you want from Advent SS&C, we'll handle the communication with them. We'll get every set up and resolved on your behalf.
Corporate actions are tricky, and the manual nature of handling them increases risk and inefficiency.
Inaccuracies lead to bad decision-making that can result in cash flow issues, fines, and over- or under-billing clients.
With a lot at stake, let Empaxis manage these workflows.
Our portfolio accounting team not only does the processes, but they maintain the data, systems, and daily back-office reporting.
Wealth and asset managers benefit from our talent and technology skills, as we do corporate actions processing faster and better.
The end result is accurate data and reporting that you, your team, clients, stakeholders, and auditors can trust.