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What sets Harmony apart from other portfolio management systems is that with just one application you have all the administrative tools you need for your firm’s operations. You will gain a comprehensive set of functionalities, process workflows, reporting and analysis – each with a level of depth necessary to manage your operations to the fullest extent. Harmony is an end-to-end solution that is easy to use, provides the utmost data integrity and solves for many of the challenges presented in portfolio management administration. Harmony is the operational foundation for your firm allowing you to leverage your data as you see fit.
Harmony’s strength goes beyond just a wide breadth of capabilities, providing depth within the feature set as well. More than 1000 reports are available to users out-of-the-box that range from intricate performance attribution analytics to firm-level AUM reporting. We also pride ourselves on the customizations we make available for our clients whether on reporting requirements or system functionality. Our goal is to enable you to comfortably rely on Harmony for all of your portfolio management needs.

Here are some of the core capabilities of Harmony

Click each one  to find out more
Additional Features

In addition to the features listed and explained above, there are even more key functions that Harmony offers:

Cash Management
Monitoring the day-to-day cash activities of your firm with detailed cash ledgers. As well as cash projections and viewing upcoming cash activity in the days and weeks ahead.

Cash and T-Bill Wizard
Using the cash projection reporting, the system will also provide you with a tool that generates T-Bill buy and sell suggestions based on the cash available.

Corporate Actions
In Harmony, users can input corporate actions and run them in bulk across multiple accounts. Much of this can also be automated. Additionally, if a client is subscribing to a market data provider, corporate action information can automatically be read into the system and processed without any intervention.

User Restrictions
Harmony has a dynamic security algorithm enabling you to dictate user access at a group and individual level. This means, you can control what your employees are able to see and do on Harmony. This could be something like read-only access on a set of reports or may be completely eliminating specific functionality from a group of users, for example.

Report and Data Export
All reports can be run in .csv format for easy export. Additionally, these exports can be automated and regular data extract is possible for your firm where data may be required elsewhere.

Customizations and Enhancements

We understand that Harmony cannot be provided as off-the-shelf software – the way you conduct business and its nuances from your competitors affect your operations. That’s why throughout the implementation process we are ready for the inevitable tailoring that is often required.

A "cookie-cutter" system roll-out would simply not work. Your business is distinct from your competitors in the marketplace and therefore we know the system needs to be able to adapt to some of these unique requirements. The good news is, Harmony is that flexible and the ability to customize is one of the key advantages of implementing the system.

Customizations are never a requirement but in our experience they are often a reality in many implementations. With that in mind, as your partner, we are poised to work with you to deliver on these customizations in a timely and efficient manner.

Beyond just offering the capability to customize, we are also committed to reducing or eliminating your costs to do so when customizations can be produced and rolled out as enhancements to all Harmony users. We will provide free enhancements when any customization requested by one of our clients results in broader implementation on the entire Harmony platform. We are committed to our partnership with your firm and this is one way where we can ensure the system is always evolving to meet the changing needs of the industry and that we are responsive to your requests and the changing nature of your business.

Fund Accounting (GL-Level Reporting)

While Infinite Investment Systems will not serve as your fund administrator, Harmony is equipped with many of the tools and reports required to cross-check fund accounting reports.

In Harmony you can produce such reports as:

  •     Net Asset Value
  •     Trial Balance
  •     Income Statement
  •     Balance Sheet
  •     Summary of Income Tax Information
  •     General Ledger Reconciliation
  •     Chart of Accounts
  •     Account Analysis on Trade Date
  •     Security Sub-Ledger
  •     Capital Stock Report
  •     Cost Continuity
  •     Income Trust Summary

What makes fund accounting all the more simple on Harmony is that there are no additional processes to run. The reports and data are all completely integrated with the front office functions of your firm. With all transaction types being mapped to appropriate GL accounts, the accounting is essentially being completed by the system without any additional input.

Many users take advantage of the fund accounting functionality in Harmony to run in parallel to their fund administrator – as a check and balance or reconciliation to the information that their fund administrator is reporting.

Multi-Custodian – Reconciliation and Data Import

One of the most critical functions for most portfolio management firms is reconciling your data with your custodian. Since the custodian is the official book of record, most clients want to ensure that their data is in line with what is reported there. Clients use Harmony’s data reconciliation as a ‘check and balance’ process to insure the information from the custodian is accurate and to identify any exceptions with their own records. In Harmony, this process is straightforward and for many custodians the process can be automated. The system generates clear and concise reporting showing the user any discrepancies that may exist.

Harmony is built in such a way that it can interface with a variety of custodians, market data vendors, brokers and other third-party systems. Currently there are more than 700 points of connectivity in the form of imports and exports into and out of Harmony using automated batch processes and APIs. The independence of Harmony allows you to work with multiple custodians and retain one, clear record on the application.

Where connectivity with a custodian or third-party does not exist, our team will work to develop that functionality for you. This also includes connectivity to market data providers, trade execution systems and trade settlement systems.

Customized Client Statements and Reporting

Users have access to over one thousand reports in Harmony. From valuation to performance and from fees to portfolio activity, there is no shortage of reporting available. All reports are made available for firms to send to their clients. Combined with Harmony’s report packaging functionality, all of your client statements can be efficiently generated right from the application.

Ultimately, you’ll define what you want to send to your clients and what information you want to present on your statements. You have regulatory requirements and there are metrics you must include but a client statement is one which tells a firm’s unique story. With Harmony you are free to choose the reports you wish to include in your report package and will have the entire system’s report catalogue available to do so. You’re not bound to one iteration of your client statement either. You can create multiple report packages and have multiple report package styles – for both clients and for internal purposes – and you are flexible to determine which reports are contained in each.

Reports are all ‘white-papered’ and at a minimum your logo will appear on each report in their generic form. However, if you prefer to have a custom look and feel or more closely represent your brand, we are more than prepared to customize reports for you. It’s something that most of our client choose to do to differentiate their statements from other firms. Simply tell us what you are looking for and our team will go to work to create your ideal client statement.

The Harmony Client Portal can be used to facilitate report delivery and presentation for your clients. The integration between Harmony and the Harmony Client Portal itself is seamless and makes for a smooth reporting process.

CRM – Outlook Integration, KYC, DocuSign

In addition to strong portfolio management capabilities, Harmony also has a robust, integrated CRM to enable firms to better manage client relationships. Combining the core portfolio management reporting with vast client detail and segmentation results in fast and efficient client administration and seamless and accurate reporting for all clients and accounts.

Harmony’s CRM capabilities include:

  •     Full client and contact details database (i.e. contact information, relationships, status)
  •     Communications and activity log – sync with Outlook
  •     DocuSign integration for e-signature and information capture
  •     Electronic file storage sorted by contact
  •     KYC input, update (via DocuSign) and alerting (for renewal purposes)
  •     Client asset mix (IPS) and assignment to models and objectives
  •     Account-to-model comparisons and monitoring
  •     Account fees and exceptions for billing
  •     Account groups – for purposes of households, managers, mandates, etc.
  •     Manager and contact links to accounts and account groups
  •     Ability to create custom fields and track additional client information

Harmony’s integration with your Microsoft Outlook allows you to review emails sent and received from your clients within the application. By synching email communication with your clients in Harmony users gain quick and easy access to review the latest correspondence with your clients.

Additionally, Harmony also gives you the opportunity to setup and assign tasks to manage workflows internally. Using Harmony for task management ensures your team can confidently see what needs to get done and work to complete it.

Trading – Modeling, Rebalancing

By integrating various trade strategies and accommodating modeling at the account and household (consolidated account) level, we’re confident that you will be able to use Harmony to generate new trades, rebalance portfolios and gain the foresight into new trading proposals. Tying compliance rules into the trade process will also enhance the process as the system will alert you to violations and potential issues with the new trades that are proposed.

At the core of the trading functionality present in Harmony is the electronic Order Blotter which is ultimately where trades are organized before being sent for execution. This order blotter is fed from one or more multiple trade strategies (listed below) and is built with many different options to ensure trades are accurate, complete and all relevant details are captured.

For additional foresight, Harmony also has “What-If” Analysis reporting that is available allowing you to see the impact of the proposed trades on your accounts prior to fulfillment.

The following trade strategies are available in Harmony:

Portfolio Trading Strategies:
 Trade Allocation

  • % of Portfolio
  • % of Portfolio by Family/Account Group
  • % of Portfolio by Aggregate
  • % of Asset Class (Level 1, Level 2, Level 3)
  • % of Asset Mix

    Interactive Trade Allocation (make adjustments directly on a portfolio appraisal)
    Prorate by Portfolio / Asset Class Size
    Prorate Shares to Allocated Target
    Increase or Decrease Position by %
    Raise or Reinvest Cash
    Interactive Portfolio Appraisal with Click-Through Buy/Sell Functionality

Modeling Strategies:

    • Create and maintain multiple models
    • Choose to have static models or link models to market fluctuation/dynamics
    • Assign portfolios to models for rebalancing and monitoring
    • Model at the portfolio level or consolidated portfolio level (i.e. household)
    • Define asset mix models (model of models, separate models by asset class breakdown)
    • Consolidated asset mix modeling for rebalancing at a household level with allocation rules
    • Rules based trade allocation on consolidated trade modeling

We understand no two firms are completely alike when it comes to their entire trading process but the system is built in such a way that we can accommodate the subtleties that define your trading. As the system is implemented, we work closely with you to integrate the system functionality that is there with your ideal trading process.

Compliance

Compliance is at the core of many of the processes involved in day-to-day investment management. Rules can be imposed for a variety of reasons: new industry legislation, internal procedures/controls, investment strategies, client restrictions, etc. With Harmony you are covered on all fronts and the dynamic tools available will ensure that nothing falls through the cracks.

One of the key advantages that Harmony will offer your firm is the ability to create/define your own compliance rules and parameters. You’re not limited to assigning compliance rules from a pre-defined list and instead you have the ability to define any rule that you require. The rules which you create can then be linked to accounts for monitoring and alerting purposes. Rules may be based on a variety of reasons and, rest assured, whatever the scope of the rule, Harmony can handle it.

With proper compliance rules in place, you will be able to monitor your accounts on both a pre-trade and post-trade basis. That means, when you are running a trading strategy or are proposing a new trade, Harmony can run a check against all the rules associated with the accounts involved. If there are violations the users will be alerted to the infractions and trades can be adjusted.

Fees and Billing

Harmony’s fee engines give you the power to calculate the most complex fee arrangements while keeping the process simple and straightforward. The end product will always be accurate and transparent fee calculations that can be broken down for clients, custodians, referring partners and brokers.

There are a myriad of features and options at your disposal when looking at Harmony’s fee capabilities. Many other systems are sold specifically for their fee modules but within Harmony the fee capabilities will generally exceed those stand-alone fee products.

Here are some of the ways that Harmony can make running your Management Fees a smooth process:

  •     Define tier-based fee schedules with no limit to the amount of tiers within each and no limit to the number of schedules overall
  •     Manage accounts within fee groups (i.e. a household), combining the assets for billing purposes and generating an invoice for all accounts at the same time
  •     All calculation frequencies supported – daily, monthly, quarterly, semi-annually, annually
  •     Assign the specific province of taxation for accurate calculation of HST (GST)
  •     Input ‘Fee Start Date’ and ‘Fee End Date’ for accounts opened/closed in the middle of a billing cycle
  •     Assign discounted fee schedules to specific accounts (even when part of a group)
  •     Mark accounts and holdings as ‘Fee Exempt’ to be excluded from fee calculations
  •     Ability to make notes and adjustments/discounts to fees once calculated
  •     Generate detailed invoices that can be sent to clients with all fees broken down clearly
  •     Sort fee data by custodian and create electronic files which can be sent directly to the custodians for them to process those fee transactions
  •     Customized performance fee calculations
  •     Third Party Fees - calculate fees paid to referring partners (trailers, referral fees)
  •     Run asset class and security level fee calculations
  •     Calculate and report projected fee revenue

A good portion of every implementation is spent looking at your specific fee requirements in an effort to automate as much as possible. We’re never surprised at requests for changes or customized methodology but we would be surprised if we could not handle all of the intricacies of your fee calculations.

Performance Measurement

One of the top priorities most new clients have when evaluating Harmony is how it can handle performance calculations and how performance can be communicated to clients.

Industry regulations, audit requirements and client demands are all reasons why accurate performance reporting is of the utmost importance. Harmony offers an unparallel level of depth and a breadth of performance functionality that will meet the requirements of your firm. There are dozens of performance reports available in Harmony, each with various options to segment accounts, sectors, asset classes, etc.

Performance methodology is important and with he introduction of regulatory mandates with regards to how performance is calculated (NI 31-103/CRM2) firms need flexibility. With Harmony, you have the option to run performance in both dollar-weighted measurement and also in true time-weighted methodologies as required.

Key performance functionality includes:

  •     Performance measured at portfolio level, consolidated portfolio/account level, sector, sub-sector, asset class, industry group and security level
  •     Run performance at any frequency (annual, quarterly, monthly, weekly, daily) and on any date range
  •     Run performance verification and integrity checks on the numbers produced
  •     Use performance reporting in client statements generated in Harmony
  •     Choose to calculate performance net of fees or before fees and to include or exclude income.
  •     Import benchmark and index data and compare on performance reporting
  •     Create custom or blended benchmarks for use in comparisons
  •     Assign default benchmarks to portfolios for performance reporting
  •     Create and maintain composite groups and run composite performance figures
  •     Accurate security level attribution reporting, security contribution reporting and security level returns reporting
Portfolio Accounting and Valuation

At the core of Harmony lies its portfolio valuation and accounting capabilities which are independent to any single custodian or data source. Tracking portfolio activity, reporting historically, organizing by asset class/sector, consolidating accounts – those are just the tip of the iceberg. Your ability to view accurate portfolio holdings and investigate positions gives you full control and direction on all of your reporting.

Some of the options available to you include:

  •     View by account, account group (i.e. household) or on a consolidated basis
  •     Run reports as of any date with no restrictions
  •     Choose to sort the report based on multiple options (i.e. Asset Class, Industry Group, Classification, Currency, Security Type, Account)
  •     Drill down on positions to see a security ledger report
  •     Drill down on securities for detailed security information
  •     Mark holdings as unmanaged or fee exempt for quick report exclusions
  •     Multi-currency, consolidated or non-consolidated cash holdings

One of the key advantages of Harmony is the ability to navigate through reports by simply clicking on the figures generated. The reports themselves are interactive and figures within each report become links which you can drill down on simply by clicking on that particular figure.

There are no longer any mysteries when you are looking at your portfolios in Harmony. Reports come ‘alive’ with the drill down functionality and you gain a full audit trail on the data that is presented to you in the reporting.