PureFacts 2022: A look back
As we embark on a new year, it brings an opportunity for reflection. For investors, wealth advisors, and asset managers, this is a good occasion to evaluate what worked last year, what didn’t, and what could be done differently as you begin 2023. For us here at PureFacts, the beginning of the new year is a natural time to check in on the progress made against our goal to help our clients, and their investors, live their best lives possible through better wealth management. Here are just a few of the ways we’ve furthered that mission in 2022. Deepening our connection with the international wealth and asset management community With travel restrictions loosening, 2022 was the year the PureFacts team got back on the road to reconnect face-to-face with the wealth and asset management community. We were honoured to participate in The Summit for Asset Management (TSAM) in London, New York, and Toronto, as well as the TSAM ESG conference. In addition to these events, we also participated in the annual MMI Conference, the Aviso Wealth Elevate Conference and The World Business Forum. At each event we were inspired by the amazing work our clients are doing for their investors. We were also excited to see topics like, AI, ESG, and digital transformation dominate panel and speaker sessions, giving us the opportunity to share our insights and extensive experience in these areas with other innovators in wealth management. Giving back with the launch of PurePossibilities This past year was also one where we made corporate social responsibility (CSR) an even greater priority. Making a positive impact has been a cornerstone of how PureFacts operates from day one. Founder and CEO Robert Madej, President Rajini McRae, and many PureFacts employees come from modest means. They’ve seen, firsthand, what can be achieved when there is guidance in financial investments and education So in 2022 we defined and formalized our model for CSR with a comprehensive corporate citizenship program called PurePossibilities. Based on Abraham Maslow’s Hierarchy of needs, the program is designed to make a community and social impact in the following areas: essential needs, support in education, and meaningful employment. The program has grown quickly and is already starting to make a difference in communities – helping PureFacts recognize its vision of worldwide wealth. Prioritizing ESG Last year saw a rise in more conscientious investing. No longer prioritizing growth at all costs, investors, particularly young investors, see environmental, social, and governance (ESG) principles as more important factors when choosing where to invest their money. Companies ranking sustainable and ethical impacts are becoming far more attractive for clients and investors. In 2022 we shared our position regarding ESG and its impact on markets with speaking engagements at various conferences like TSAM, where we discussed the Future of Wealthtech and ESG. We also continued to make support for wealth and asset managers working with ESG products a priority with ongoing development of tools to help score and evaluate ESG assets. Being recognized as a trusted voice in WealthTech Beyond events, new programs, and staying on top of investment trends, 2022 was also a year that showcased PureFacts’ thought leadership, talent, and industry expertise. PureFacts was featured in several publications, including the : The company was also recognized for its leadership in wealth and financial technology. In addition to several awards, the team was humbled to be included on the 4th annual WealthTech100, the AIFintech100 and the global ESGFinTech100 lists. Looking Forward The groundwork set in 2022 positions PureFacts to deliver even more value to clients, communities, and the wealth and asset management industry in 2023. A heartfelt thank-you to all our clients, vendors, and partners who enable our growth and success year after year. In a few weeks, we’ll shed some more light on priorities for the upcoming year. In the meantime, subscribe below to receive more information about what’s to come, and other relevant tips, trends, and guidance to improve your fee billing, client onboarding, and wealth and asset.
PureFacts Launches PurePossibilities Community Program
PureFacts Financial Solutions has launched a comprehensive corporate citizenship program called PurePossibilities. The program was designed to help people in three main areas by providing essential needs, support in education, and meaningful employment. The heart and vision of PureFacts is to see a day where everyone has financial well-being and are given the opportunity to live their best life. CEO Robert Madej, President Rajini McRae and many PureFacts employees come from humble beginnings, and PurePossibilities endeavours to provide a leg up to many such people, in the hopes that someday we achieve Worldwide Wealth. “Many people in the PureFacts family have the advantage of a formal education, with all their basic needs covered, such as a place to live, access to food and clothing,” said Robert Madej, founder and CEO of PureFacts Financial Solutions. “By creating PurePossibilities, we are hoping to strengthen our communities and improve lives.” PurePossibilities is based on Abraham Maslow’s hierarchy of needs, in which essentials are layered from more concrete physiological needs (food, clothing and shelter) to safety (job security) and finally, self-actualization (pursuing goals). Furthermore, through this program, there is a hoped-for flywheel effect, in which individuals will give back to their communities once they have secured jobs and are meeting their own goals in life and career. Introduced by Jim Collins in his influential book Good To Great, the Flywheel Effect illustrates that “companies don’t become exceptional as a result of a single intervention or initiative, but rather from the accumulation of little wins that stack up over years.” In recent years, The Flywheel Effect has been used to help community revitalization efforts in Detroit. “We are trying to help individuals get a leg up in financial wellbeing so they too can create more opportunities for others,” said Rajini McRae, President of PureFacts Financial Solutions. “What differentiates this program is that our employees provide mentorship to help scholarship recipients land a job at PureFacts or in our network. Through employment they start the process of financial wellbeing and can help others as well.” PureFacts has divided up its own three pillars to focus into separate programs, each dedicated to supporting individuals and communities for long-term successes. The Essential Needs program helps provide the bare necessities people need to survive, such as food and clothing. To date, PureFacts and its 140 employees provided food security through The Daily Bread Food Bank, it raised $10,000 in support of Ukraine, and partnered with LIGA Foundations in Lisbon, a non-profit institution that trains people in situations of vulnerability. The PureScholars Education program helps lift individuals out of hardship through education. Scholarships to date are provided to multiple schools across Ontario, (the Rotman School of Management and the Faculty of Applied Science and Engineering, both at the University of Toronto; the University of Waterloo; and the University of Guelph.) The target student is one who has good grades, is involved in their community, and has financial needs. The program has provided $132,000 worth of scholarships for more than 30 students over five years. The Employment program helps enable self-actualization through meaningful employment. It does so by offering mentorship, networking opportunities and interview preparation assistance so recipients achieve financial wellbeing and can give back to others. PurePossibilities has already paired two PureFacts employees with mentored students in this program. “The pandemic has accelerated the need for PureFacts’ PurePossibilities program,” said McRae. “And while the program is growing faster than the team had anticipated, PureFacts is excited about the possibilities of making a difference in the community and towards its vision of Worldwide Wealth.” About PureFacts PureFacts is a global company serving over 100 clients with a combined one trillion in assets under management across Canada, the USA, and Europe. PureFacts’ wealth-tech solutions help some of the largest and most recognizable global wealth management firms increase productivity, reduce costs, and create an enhanced customer experience. Its solutions help firms retain their most valued clients, minimize time that advisers spend on fact finding to deliver high quality advice, and prevent costly mistakes through data anomaly detection.
Robert Madej Discusses Acquisitions with TechExit.io
Robert Madej, our PureFacts Founder & CEO, spoke at the TechExit.io event about how PureFacts defied the odds and successfully closed two significant acquisitions in 2020 to become a truly global firm. Regular M&A activity is an essential component of our company’s strategic plans for growth. In this video, Robert shares his insights on how PureFacts overcame valuation and due diligence hurdles to acquire two companies during such a challenging period and what his team learned from the experience. Buyside Drilldown – Closing and holding down acquisitions in uncertain times Here are some highlights from the panel discussion: TechExit.io is the go-to event for technology industry players who want to understand the ins and outs of selling – or buying – technology companies. This event is not just for tech companies looking to exit in the near term – it is about being “M&A ready” from day one. TechExit.io is the only conference of its kind in Canada – focused solely on mergers and acquisition strategies for technology companies.
Empower advisors to tackle tough fee conversations
Challenge Advisors were concerned about having client conversations about fees – unsure about how to justify the value they provide. Solution Delivered workshops to advisors in multiple locations about fee disclosure and the questions it would raise for their clients. Recommended how to have comfortable, confident client conversations. Results Advisors were given unique insight into what clients understand and how they react. Recognized the opportunity. Felt comfortable proactively approaching a difficult subject.
Major Software Upgrade & Data Conversion Success
Challenge Upgrade their existing PureWealth platform to the next generation release to benefit from the latest and improved version of the software. Consolidate their data management system – migrate data from their old system, and then began consuming data from a new system without any disruptions. Solution Simultaneously implemented an enterprise software solution upgrade and a data conversion. Cost-effectively and seamlessly upgraded ATB to a comprehensive and flexible solution that meets their current and future business needs. The enhanced solution delivers better productivity, ease of administration and a richer user experience. Results Successfully deployed two large projects simultaneously – a massive undertaking. Effortlessly accommodated a number of additional changes and add-ons while minimizing potential errors and delays. Seamlessly integrated with another software vendor.