News

Waddell & Reed Chooses Albridge Solutions for Enterprise-Wide Data Consolidation and Wealth Reporting

Will Deploy Albridge's Wealth Reporting Application to National Network of Financial Advisors

Overland Park, KS and Lawrenceville, NJ -February 28, 2006— Albridge Solutions (www.albridge.com), the industry leader in enterprise data management (EDM) and performance reporting, announced today that it has partnered with Waddell & Reed, Inc. to bring a Web-based portfolio accounting and investment reporting solution to Waddell & Reed's national network of more than 2,400 financial advisors. Albridge will consolidate investment data for Waddell & Reed's proprietary investment accounts and non-proprietary investment accounts, including individual mutual funds and insurance product accounts.

"Waddell & Reed represents Albridge's continued success within the nation's larger broker/dealer marketplace," said Greg Pacholski, CEO of Albridge Solutions. "We are excited that Waddell & Reed has chosen Albridge to provide its advisors with a consistent reporting platform across the entire network, incorporating all of the assets being held within the advisor's book of business."

"We recognized the need to provide all of our advisors with a consolidated reporting platform, which facilitates superior client service and advisor productivity," said Tom Butch, Chairman and President of Waddell & Reed, Inc. "Albridge presented a high-quality and simple-to-use solution for Waddell & Reed advisors."

About Waddell and Reed, Inc.
Through its subsidiaries, Waddell & Reed Financial, Inc. provides investment management and financial planning services to clients throughout the United States. Waddell & Reed, Inc. serves as principal underwriter and distributor to the Waddell & Reed Advisors Group of Mutual Funds, W&R Target Funds, Inc. and Waddell & Reed InvestEd Portfolios, Inc., while Ivy Funds Distributor, Inc. serves as principal underwriter and distributor to Ivy Funds, Inc. and the Ivy Funds portfolios. To learn more, visit www.waddell.com.

About Albridge Solutions
Albridge Solutions is a leading provider of enterprise data management and web-based portfolio accounting and performance reporting solutions to 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 support enterprise level initiatives such as data-mining, CRM, compliance monitoring and other mission critical business applications. For more information, contact Tom Sullivan at 609-806-0263 or visit www.albridge.com.

Return to News and Events