Leith Wheeler has never looked better to its clients
Project Goals
Like many wealth management firms, Leith Wheeler found the creation of client statements to be a time-consuming and highly labor-intensive process. In addition, management felt that the resulting statements suffered from a lack of branding and poor visual appeal. On-going growth at the firm meant further time spent on producing statements for an expanding client base. Leith Wheeler knew that something needed to change.
Leith Wheeler needed a method for automatically generating insightful, customized statements that reflected and reinforced its brand, while providing added value to its clients. In 2006, the firm engaged PureFacts to redesign its client statements and to completely overhaul its statement generation process.
Solution Approach
As a key first step, PureWealth - PureFacts' flagship product - was used to create a single, integrated data warehouse to organize all of Leith Wheeler's data. PureWealth receives regular, automated data feeds from Leith Wheeler's other data management systems to ensure that the central database remains up-to-date and accurate.
Next, PureFacts and Leith Wheeler worked closely together to completely redesign the private client statements, tailoring them specifically to the firm's requirements. The flexible PureStatements reporting engine used to generate the statements automatically handles special rules and exceptions.
New institutional statements were also created. These statements incorporate data from previously distinct systems that is now integrated by PureWealth. For both client statements and institutional statements, many manual processes were eliminated, with corresponding reductions in costs, errors, and production time.
Key Benefits
Today, Leith Wheeler's systems automatically generate modern, accurate, full-colour statements with the click of a button. Statements are personalized and present comprehensive data in an easy-to-read format tailored to the needs of institutional and private clients.
Leith Wheeler has found that its new statements enhance marketing efforts, increase client satisfaction, and aid in client retention. As an added bonus, they are also easier, faster, and less costly to produce.
Why PureFacts?
PureFacts' unique combination of financial industry experience, business process expertise, and deep technical knowledge allowed for the design and delivery of a robust, flexible system. PureFacts also advised Leith Wheeler on current best practices. PureFacts also understood that client statements are a key customer contact point, and was committed to delivering an attractive, accurate statement package that Leith Wheeler would be proud to send to its clients.
Future Plans
Since the successful completion of this work, PureFacts and Leith Wheeler have undertaken a number of other projects together, resulting in improved management reporting, automated compliance processes, and further client service enhancements for the client.
Client Overview
Founded in 1982 by Murray Leith and Bill Wheeler, Leith Wheeler Investment Counsel Ltd. is a value-based wealth management firm with over $9 billion of assets under management.
Vancouver-based Leith Wheeler currently manages equities and fixed income for corporations, unions, professional organizations, universities, foundations and private clients across Canada.
“We are very pleased with the statements generated by the PureFacts system. They enhance our marketing efforts, contribute to client satisfaction and aid in client retention. As an added bonus, they are easier, faster and less costly to produce.”
David Schaffner
President, CEO
Leith Wheeler Investment Counsel, Ltd.