News

RIAs Can Now Reach Beyond Book-Of-Business To Better Serve Clients

Albridge Solutions Offers Full-Service Virtual Office Platform

September 13, 2005 – Lawrenceville, NJ – Albridge Solutions, www.albridge.com the industry leader for portfolio performance reporting, announced today a full-featured platform solution for Registered Investment Advisors. The bundled offering, Albridge Wealth Reporting for RIAs™, provides a complete platform including performance reporting, fee billing, data aggregation, and private-labeled web access for clients. It also integrates with leading virtual-office applications advisors rely upon every day.

In addition to the reporting application already adopted by over 60,000 financial advisors, Albridge Wealth Reporting for RIAs features Albridge Data Aggregation, powered by CashEdge (www.albridge.com/solutions/data-aggregation.html). This aggregation service enables advisors to view and report on their clients’ held-away assets, including retirement, wirehouse brokerage, and bank accounts. Albridge Solutions created this joint offering in response to the growing demand from advisors for comprehensive views of their clients’ assets for planning and portfolio management.

More than half of affluent households keep their assets and liabilities with more than one institution, according to industry research. “Having a holistic view of their clients’ financial picture better positions advisors to perform planning and asset management and to bring those assets under their book-of-business,” says Greg Pacholski, CEO of Albridge Solutions. Albridge recently conducted research that shows its Data Aggregation service users achieved 9.5% growth in total number of clients versus non-subscribers’ 3.6%. In addition, Albridge subscribers saw sizable increases in assets under management (34.6% vs. 18.5%), and growth in assets per client (24.9% vs. 14.6%).

“By offering a complete platform solution, we are enabling RIAs to get critical platform applications and the comprehensive client service support typically enjoyed by large broker-dealers,” stated Pacholski. “As a result, Albridge clients are now able to offer more complete financial planning and portfolio management, taking all assets under consideration.”

About Albridge

Albridge Solutions is a leading provider of enterprise-wide data consolidation and web-based portfolio accounting and performance reporting solutions in the financial services industry. Financial institutions and advisors including investment management firms, insurance companies, banks, Registered Investment Advisors, and independent, insurance and bank broker-dealers rely on Albridge for the high quality consolidated data they need to succeed. Albridge Solutions consolidates account information from hundreds of data sources encompassing thousands of product companies and makes this valuable customer data readily accessible to many leading financial institutions and advisors. Using patent-pending technology, Albridge Solutions collects, cleanses and normalizes the transaction and position-level securities data it receives from settlement and clearing firms, data custodians, product companies and internal proprietary systems. This data is then used to power Albridge Wealth Reporting, our web-based portfolio accounting and performance reporting solution in use at over 100 financial services firms representing over $850 billion in assets, 60,000 financial advisors and millions of investors. Financial Institutions can also choose to receive cleansed and consolidated information via Albridge Web Services or Albridge Replicated Data Services to jumpstart enterprise level initiatives such as data-mining, CRM, compliance monitoring and other mission critical business applications. For more information, contact Stuart Tarmy at 609-806-0227.