Wealth platform migration case study
$8B moved. 100% accuracy. Every client retained.
A private wealth manager moved $8B in client assets onto a major bank's wrap platform under a hard regulatory deadline: at the time, Australia's largest wrap platform transition. Transformativ's program director coordinated both organisations and owned the plan, controls and stakeholder engagement through to go-live. Every asset transferred with 100% accuracy, with zero penalties, full client retention and a $10M annual revenue uplift.
in client assets transitioned
accuracy across every asset, tax lot and cost base
annual revenue uplift
penalties or client compensation events
client retention
Australia's largest wrap platform transition at the time.
A private wealth manager moving to a new wrap platform
A private wealth manager needed to move its clients' portfolios onto a major bank's wrap platform, a service that holds and administers investments on behalf of advisers and their clients. At $8B, it was at the time the largest wrap platform transition Australia had seen, and it had to be completed under a hard regulatory deadline.
Moving $8B in client assets with no room for error
Every asset, tax lot and cost base had to transfer precisely, with advisers and clients kept fully informed and day-to-day operations uninterrupted.
- Precision: complex instruments and historical performance had to map exactly onto the new platform.
- Regulatory deadline: a hard deadline, with notices, attestations and trustee sign-offs to complete on time.
- Two organisations: the wealth manager and the platform provider had to work to one plan.
- Client confidence: advisers and clients had to trust the move and keep their portfolios running without interruption.
What Transformativ did
Built an end-to-end compliance plan
Notices, attestations and trustee sign-offs were planned and tracked end to end, so the transition met every regulatory obligation and incurred zero penalties.
Ran the program with firm controls
Workstreams for data migration, platform integration, adviser enablement and client experience, with milestone gates and risk burndown, coordinated across both organisations by Transformativ's program director.
Rehearsed the migration until it was exact
Complex instrument mapping and historical performance data, multiple mock migrations before the real one, and automated validation after every load.
Kept advisers and clients with us
Personalised communications, adviser training and hypercare after go-live kept confidence high and portfolios running.
$8B transitioned with 100% accuracy
The transition moved $8B in client assets with 100% accuracy, zero penalties or client compensation events, and full client retention. Clients gained better online access and reporting, and the move generated a $10M annual revenue uplift through new inflows and operating leverage.
- Accuracy: 100% of assets, tax lots and cost bases transferred correctly.
- Compliance: zero penalties or client compensation events.
- Clients: full client retention, with improved online access and reporting.
- Revenue: a $10M annual revenue uplift after the transition.
Lessons for wealth platform migrations
Three lessons from this transition apply to any wealth platform or wrap migration.
- 01
Rehearse until the numbers match.
Multiple mock migrations and automated post-load validation made 100% accuracy achievable.
- 02
Plan compliance as its own workstream.
Treating notices, attestations and trustee sign-offs as a tracked plan is what kept penalties at zero.
- 03
Advisers carry the client relationship.
Training and briefing advisers early is what kept every client.
Common questions about wealth platform migrations
A wrap platform migration moves clients' portfolios, including their assets, tax lots, cost bases and history, from one investment administration platform to another. It has to be exact, because every holding and its tax position must arrive unchanged.
Map every instrument and its history in detail, run multiple mock migrations before the real one, and validate every load automatically. In this transition, $8B moved with 100% accuracy.
Brief and train advisers early, send personalised communications before and after the move, and provide hypercare once clients are on the new platform. This transition retained every client.
Know where your program stands before the next dollar goes in.
Five minutes. A scored baseline against twenty years of programs.
Figures are stated as at the time of delivery. "Largest" refers to Australian wrap platform transitions at the time.