Idea to NAV
Start with the seven stages an asset manager runs, from forming a view to striking a NAV. Click a stage to see the sub-capabilities on it, the vendors that sell into it, and the wealth-side stage it rhymes with.
The plain chain — stages only.
Where vendors pile in
Most crowded stages
- Client124
- Books85
- NAV63
- Idea51
Fewest vendors mapped
Thinnest stages
- Order41
- Execution49
- Portfolio51
- Idea51
The four pillars
Where the investment view is formed and turned into positions — research management, factor and optimisation engines, multi-asset overlays.
Block trading, allocation, pre-trade checks, EMS routing and transaction cost analysis. The wealth OMS is the lighter cousin of this stack.
Security master, pricing, corporate actions, IBOR/ABOR and reconciliation. Asset management is far more data-hungry than wealth.
Market and liquidity risk, regulatory reporting, fund accounting, transfer agency, depositary and performance attribution.
Mostly the same names. Very different jobs.
People, tools and players cross the line between wealth and asset management. What changes is depth, scope and where the real work happens.
Same custodian, different job
Schwab wins on advisor-platform economics; BNY, State Street and Northern Trust are built for fund accounting, NAV, securities lending and institutional reporting.
Same OMS, different weight class
Advisor rebalancing and model drift on one side; block trading, allocation, pre-trade rules and IBOR on the other.
Same skill, different depth
Vendor selection is an RFP for the advisor stack in wealth; in asset management it adds IBOR, compliance rule engines and data lineage.