Case Study: Wealth Management Transformation — Platform Transition at Scale

Overview

A leading Australian wealth manager partnered with a major banking group to transition client investment accounts to a modern wrap platform. The program represented one of the largest wealth platform migrations in the country, moving ~$8B in client assets.

The challenge was immense: regulatory scrutiny, complex data requirements, and high-net-worth clients who expected flawless execution and white-glove service. Transformativ provided program leadership to deliver the transition seamlessly, ensuring regulatory compliance, client trust, and commercial upside.

The Challenge

• Scale & Value: ~$8B in client portfolios migrated, including equities, managed funds, and cash.

• Regulatory Oversight: High scrutiny from auditors and regulators due to fiduciary obligations.

• Hard Deadline: Significant penalties if transition wasn’t executed on time.

• Client Expectations: High-net-worth clients required zero disruption and premium service.

This challenge reflected a broader trend in wealth management: modernising platforms while safeguarding client trust (EY 2025 Wealth & Asset Management Outlook).

The Approach

1. Regulatory & Compliance Focus

• Built a comprehensive compliance plan with detailed audit trails.

• Rehearsed reporting events with trustees and auditors.

• Ensured 100% fiduciary alignment and readiness for regulator scrutiny.

2. Robust Program Management

• Structured into multiple streams: data migration, technology integration, client communication, advisor training, compliance.

• Identified high-risk scenarios (e.g., market swings during migration weekends) and designed contingency plans.

• Maintained executive visibility with frequent steering updates.

3. Data & Systems Integration

• Collaborated with platform teams to map complex portfolio data.

• Conducted multiple mock migrations to test accuracy.

• Executed live migration with scripts validating to the cent.

• Integrated advisory tools with the new platform for seamless post-migration continuity.

4. Client & Advisor Engagement

• Designed personalised client communications outlining benefits and transition timelines.

• Conducted advisor briefings and training to ensure confidence.

• Established dedicated support hotlines during migration weekends.

This combined technical rigour with empathetic client management, aligning with best practices for major platform transitions (PwC: Wealth Management Insights).

The Outcome

• Complete Transition: ~$8B in assets migrated with 100% accuracy, zero compliance breaches.

• On Time, No Penalties: Delivered under a hard deadline, avoiding financial and reputational risk.

• Client Retention: Virtually no client attrition; positive feedback on proactive communication and improved platform functionality.

• Revenue Growth: Transition directly enabled ~$10M annual uplift through new inflows and advisor productivity.

• Strengthened Relationships: Partnership between the wealth manager and banking platform deepened, with regulators praising the program.

The success demonstrated that even the most complex platform transitions can be executed as a seamless client upgrade, not a disruption. This mirrors a broader industry shift toward consolidation and efficiency in wealth management (BCG Global Wealth Report 2024).

Insights & Lessons

1. Compliance-first prevents penalties. Regulatory rehearsal ensured no surprises at go-live.

2. Mock migrations de-risk execution. Multiple dry runs eliminated data integrity risks.

3. Client communication builds trust. White-glove messaging kept high-net-worth clients confident.

4. Partnerships unlock growth. The transition strengthened both the client and the platform provider.

Key Highlights

• $8B in assets migrated seamlessly

• Zero compliance breaches or penalties

• Virtually 100% client retention

• $10M+ annual revenue uplift

• Enhanced wealth manager–platform partnership

Platform transitions are often fraught with risk. This case demonstrates that, with the right leadership, compliance rigour, and empathetic client handling, they can deliver accuracy, retention, and growth.

At Transformativ, we specialise in managing large-scale transitions where both precision and client experience matter most.

👉 Learn more about our Wealth & Asset Management Transformation Services.