US software provider Indata has made a number of system enhancements to its suite of wealth management products to provide users with greater flexibility and the potential for cost savings.

The new features cover a range of wealth management processes including portfolio modelling and trading, back-office accounting and reporting, reconciliation and client relationship management.

Indata has enhanced the “what if” modelling functionality of its software to include optimisation tools for trading across family groups of accounts, as well as providing greater integration with established custodians from a trading, accounting, billing, and reporting standpoint.

Additional interfaces with trust accounting platforms have also been added to Indata’s software.

Indata’s platform allows advisory firms to mix and match products and services, and because all software and technology infrastructure is hosted by Indata, wealth managers could benefit from significant cost savings, the firm said.

“This new enhanced functionality combined with Indata’s outsourced solution used by global asset managers provides a compelling set of capabilities for advisory firms within the wealth management space,” said David Csiki, managing director of Indata.

Indata, which is based in San Diego, provides software for buy-side firms including trade order management, compliance, portfolio accounting and front-to-back office.  Established in 1968, the firm produces all its software offerings in-house.