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Plan administration

Wealth management solutions

Financial services companies looking to address needs such as flexibility, adaptability and speed-to-market for new investment products can depend on CGI’s Wealth360 as the solution. CGI Wealth360™ plan administration provides a robust and proven plan administration platform that currently serves the Canadian financial services industry. The solution manages the legislative features for all federal and provincial rules associated with registered and non-registered plans, including multi-currency capability.

CGI’s Wealth360 also offers a term deposit manufacturing solution designed to provide organizations with the functionality needed to succeed in the competitive term deposit market. An extensive set of features and functions on a scalable platform allows clients to tailor their plan and product offerings. They can design and create a unique suite of products that can be delivered quickly and economically to any point of sale within a client’s organization, including back office, call center, front-line staff, as well as web-based users.

CGI’s Wealth360 plan administration solution provides robust support for all federal products and any provincial regulation with respect to RRSP, RRIF, TFSA, RESP, RDSP and non-registered plans. The strength of the solution lies in the separation of the plan from investments held in the plan. This allows for the management of all legislative and taxation rules at the plan level. A reduction in development costs and time to market is the benefit of this approach, making changes quick and economical. Legislative changes are made once and delivered to all plans simultaneously without impacting the investments held.

CGI Wealth360 provides a term deposit manufacturing solution that delivers the rich functionally and scalable platform needed to succeed in the competitive term deposit market. Products such as Regular, Step Rate and Index Linked terms can be created and changed easily by a product manager as the solution utilizes a pragmatic set of configurable, parameterized and reusable features. The reusability of design allows organizations to create a product once and deploy it across all registered and non-registered plans, resulting in increased operational efficiencies, reduced costs and the ability to go to market quickly.   

CGI’s Wealth360 plan administration solution is unique in that each plan is created with a savings account component that manages all of the credits and debits that flow through the plan. As a result, the plan acts as a clearing and central account for transactions, plan reporting and taxation. The savings account not only pays interest at predetermined frequencies and rates, but it can also offer a promotional rate of interest. With the recent surge of high interest savings accounts (HISA) and marketing campaigns for new deposits, a financial institution can quickly and effectively offer higher interest incentives for new deposits for a promotional period.

Financial institutions are striving to offer a variety of unique wealth management products through numerous sales and distribution channels at reduced costs and with superior customer service. CGI Business Services Objects (BSO) architecture is an industry standard, open interface enabling CGI’s Wealth360 plan administration and term products to connect to any financial institution’s sales and distribution channels. By taking advantage of this architecture, organizations can easily and effectively increase customers, market share and revenue.