ING Awarded Best Wrap Platform Provider, Greater China
22 June 2007
ING Platform Services (ING PS) received another accolade last week after being awarded the title of 'Best Wrap Platform Provider' at the 2007 International Capital Financial Congress held in Beijing, China on Friday 15 June.
Part of the International Financial Awards for Excellence organised by the Society of International Registered Financial Practitioners, it is the second year the Chinese Government has authorised the Congress in China.
ING PS was nominated for the award by one of its Hong Kong clients, AMG Financial Group, a leading independent financial advisory practice in the territory. In nominating ING PS, AMG's Managing Director cited ING's consistent and continuous commitment to the development of the financial advisory industry in Hong Kong as a key reason for putting forth the company's name.
Both the market and judges praised ING PS for the ease with which the I‑WRAP investment reporting service supports an advisor's business, allowing him or her more time to service clients and build long-term relationships rather than focusing on administration.
ING's wrap platform, offered since 2004, is an integrated portfolio service that provides a one‑stop‑shop for financial advisors to handle the logistics of managing client mutual fund portfolios, including portfolio construction, fund research, transaction recording, account keeping and consolidated client reporting.
Although it is now a critical component of the advisory industry in the US and Australia, where ING has a number of platform offerings, the platform model is relatively new in Asia. With two platform competitors in Singapore and ING PS providing a platform in Hong Kong since 2004, wrap platforms are now gaining momentum in the Asian region. As advisors move away from being focused on monthly new sales to generating recurring revenue from ongoing portfolio management and advisory services, wrap platforms are the perfect solution to their needs.
"The platform model is an important part of ING's strategy for growing distribution in the Asia Pacific region," says ING PS's CEO, Kathryn Dioth. "It permits ING to get closer to independent financial advisors, by encouraging them to rely on ING for flexible product packaging and advanced software that they cannot afford on their own."
Kathryn Dioth, CEO, ING Platform Services and Mimi Tang, Senior Business Development Manager, ING Platform Services at the awards ceremony in Beijing on 15 June. |
Mimi Tang, Senior Business Development Manager, ING Platform Services, making a speech at the 2007 International Capital Financial Congress held in Beijing on 15 June. |