Automating data operations to enable growth: How one wealth manager scaled efficiently
OMBA Advisory & Investments is a global macro manager specialising in ETF portfolio construction for family offices, high-net-worth clients and independent financial advisors. Founded in 2017, OMBA manages wealth management portfolios, runs advisory services, and operates as asset manager to three UCITS funds.
The firm chose FINBOURNE to create their core data system and power their operations as they scaled rapidly. They needed to maintain the lean, efficient team that’s core to their business model while handling data from multiple custodians across thousands of portfolios.
Variable data quality threatened growth and client trust
The firm’s multi-custodian operating model meant receiving hundreds of different data files daily from over a dozen custodians. The quality and accuracy of custodian data varied dramatically, creating significant operational challenges.
To ensure client positions were reflected accurately, they needed to identify errors quickly and efficiently for accurate portfolio analysis, trading and reporting. Without an automated, scalable data platform to power their portfolio and operations teams, tackling this data challenge would be impossible.
We knew that if we were going to scale, we needed to have a very firm grip on our data. The quality of data from custodians varied dramatically. Without an automated solution, achieving accurate portfolio analysis, trading, and reporting would be impossible.
How FINBOURNE helped
After evaluating multiple vendors through an extensive RFP process in 2022, OMBA chose FINBOURNE and signed in March 2023.
They deployed FINBOURNE’s cloud-native platform as their operational data hub. The implementation included migrating 1.2 million positions and thousands of historic transactions, then establishing automated workflows across 15+ custodians and thousands of multi-asset portfolios.
The platform enabled OMBA to:
Reconcile custodian data automatically
OMBA automatically ingests, checks and challenges custodian data. The firm created an automated triage system which identifies discrepancies and ensures efficient resolution, significantly reducing manual intervention while simultaneously improving data accuracy.
Rebalance portfolios efficiently
FINBOURNE’s portfolio management system enabled the team to quickly and accurately rebalance portfolios and leverage Straight Through Processing for real-time trade execution. They also automated their pre- and post-trade compliance checks and performance calculation processes.
Deliver accurate data to clients
The firm uses FINBOURNE’s data virtualisation to provide their client portal and reporting solutions with high-quality reconciled data. Rigorous quality control prevents inaccurate data being presented to clients, maintaining trust and confidence. The LUSID IBOR system also allowed the business model and value multiple complex asset classes including equities, fixed income, private equity and carry, property, physical assets and commodities to give clients an accurate valuation of their entire portfolios daily.
Using the two-way reconciliation process allows me to filter out any contested data and check the data's lineage on a single screen. It's much more user-friendly than other systems I've used. With FINBOURNE, I know the data I present to clients is accurate and up-to-date.
Scaling capacity without expanding headcount
FINBOURNE enabled OMBA to establish a highly automated operations management framework. This allowed them to substantially increase capacity and accommodate a fast-scaling client base and AUM value, without needing to significantly expand their core team.
Thousands of positions corrected
In less than a year with FINBOURNE’s platform, the firm identified and rectified multiple discrepancies in custodian data. The team can be confident their valuation data is current, accurate and robust.
Significant time savings across operations
The operations team saves at least 2 hours daily on morning processes that previously involved manually importing hundreds of files in different formats. Monthly reporting tasks that took 10-12 hours are now largely automated. Quarterly fund reporting has been streamlined, saving 20+ hours each quarter.
My operational time in the morning has been cut by at least two hours daily. Tasks that previously took 10-12 hours monthly now happen automatically. At quarter end, I'm saving approximately 20 hours of manual work.
Faster client service delivery
Client queries that previously required 1-2 days while waiting for custodian data can now be answered same-day. The firm can pull reports immediately in professional, branded formats that maintain quality standards.
This has allowed me to pull reports and send them same day in a beautiful, laid out Excel format. Previously, trustees were waiting one to two days for data because we were so dependent on custodians.
Accelerated portfolio management
The investment team reduced their rebalancing cycle from multiple days to 1-2 days. Real-time portfolio views replace end-of-day updates, enabling faster response during market volatility.
We can check clients very quickly and make changes to portfolios within a 1-2 day cycle, which is very quick for industry standards. When there's volatility in markets and a client wants a live view of their portfolio, FINBOURNE alongside live pricing feeds can provide a very up-to-date, trustworthy view.
Reduced total cost of ownership
FINBOURNE’s data virtualization layer eliminated the need for static data warehouses and legacy data stores. The SaaS-based cloud product removed large-scale implementations and upgrade projects, allowing the firm to focus their change budget on business transformation rather than system maintenance.
Enhanced data quality and risk mitigation
The implementation of FINBOURNE identified serious data discrepancies that posed significant risk. The bitemporal reconciliation engine provides a strong handle on potential data issues that could materially impact client trading and tax decisions.
Built for innovation and flexibility
Open architecture for continuous improvement
OMBA integrated FINBOURNE with Azure Active Directory, built scheduled data load architecture using data virtualization, and established a continuous integration pipeline. This enables rapid deployment of changes to production without complex build weekends.
FINBOURNE's technical platform is robust. I use data virtualization almost daily to quickly respond to time-sensitive tasks. The extensibility of FINBOURNE's data model also offers immense flexibility in data manipulation.
Strategic positioning for AI
FINBOURNE’s open architecture and high-quality reconciled data position OMBA strategically for AI integration. Unlike most of the industry, OMBA has exact knowledge and understanding of data reconciliation issues, placing them in a uniquely advantageous position to use IBOR data with future AI products and LLMs.
Unlike almost all of the industry, we have an exact knowledge and understanding of data reconciliation issues. This places us in a strong position to use IBOR data with future AI products and LLMs.
No vendor lock-in
OMBA wasn’t forced into a vendor-led operating model. The system’s flexibility allowed the firm to design their own screens and systems while remaining compliant. Getting data into and out of the product is straightforward, unlike many front-to-back products with lengthy onboarding and offboarding.
At the heart of operational excellence
By establishing a highly automated operations framework with FINBOURNE, the firm transformed their ability to scale efficiently. The platform’s data accuracy and operational efficiency enabled the firm to keep costs and fees low while delivering exceptional service to their growing client base.
FINBOURNE’s flexible, cloud-native architecture continues to support their expansion, providing the foundation for future innovation including AI integration and enhanced client experiences.
