Wealth technology pioneer embeds the Glue42 open-source integration platform to modernize its software suite, enabling advisors to deliver a better and more personalized experience with a single click of a mouse.
Glue42, the company that delivers integrated desktop experiences to financial instittions globally, and Chelmer, a pioneer wealth technology firm, today celebrated the culmination of a two-year relationship that saw the firms realize the industry’s vision for a simple, unified adviser desktop with the launch of Myriad, the latest release of Chelmer’s modern wealth management platform.
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The collaboration sees Chelmer embrace modern technology development standards with Glue42 Core, an open-source web integration platform, as the backbone of their product development with one goal in mind – simplified and personalized user experiences. All of Chelmer’s clients will be migrated to the latest version of Myriad in the next few months.
Like many firms, Chelmer is conscious that despite the prowess of its own solutions, its platform constitutes only one part of end-to-end adviser and trader workflows. The team realized that to be a good desktop citizen, it had to make it incredibly easy for wealth management firms to integrate its software with other critical desktop applications.
With this vision in mind, the wealth tech vendor decomposed its software suite and re-built all of its legacy applications as web-based “micro UI’s”, enabling their clients to create bespoke user interfaces with ease.
Chelmer’s new technology stack also enables wealth management firms to personalize their internal processes and open up opportunities for new features and third-party data to be integrated faster than ever before.
“The perception of needing eight screens of applications that that don’t talk to each other, represents a complete failure of technology,” said Andy Robertson, Chief Innovation Officer, Chelmer. “Involving Glue42 as a technology partner has enabled us to rebuild our core infrastructure and UI services so we can significantly reduce advisors’ screen real estate so they can manage their customers’ wealth more effectively and in less time.”
“It supports digital transformation and personalization at scale,” he continued. “We can now evolve dynamically with our clients’ business – supporting growth and creating opportunities to expand their financial service offering.”
“Advisors’ desktops have been under-performing for too long. Most wealth managers would probably give their desktops two to three marks out of ten for their performance and ease of use,” said James Wooster, COO, Glue42. By embedding Glue42 Core into Chelmer’s Myriad, we’re giving their clients an unfair advantage when it comes to integrating other applications – not just Chelmer’s – further improving the overall experience.”
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