News

Lincoln Financial Advisors/Sagemark Consulting Taps StatementOne for Enterprise Data Consolidation

Consolidated Data to Power Lincoln’s Advisor Workstation Application

October 8, 2002

LAWRENCEVILLE, NJ — Lincoln Financial Advisors (LFA)/ Sagemark Consulting, a member of the Lincoln Financial Group of companies, today announced that it has partnered with StatementOne, which will provide them with data aggregation services to be utilized by the firm’s roughly 2,200 independent financial planners.

LFA/Sagemark Consulting, one of the premier fee-based financial planning organizations, has identified the ability to utilize client aggregated data for both planning and reporting as a significant benefit to their planning process. StatementOne collects data on a daily basis through live feeds from a variety of clearing sources, custodians and legacy systems and then creates a scalable, unified database. StatementOne’s “data replication” service will deliver the unified data structure “on premise.”

According to LFA Managing Director Gary K. Dorfman, responsible for overseeing LFA/Sagemark Consulting’s wealth management business, “Our ultimate goal is to create a platform that combines cutting-edge technology with investment products and services. We believe by offering our planners a seamless process, providing them the ability to create a customized solution tailored to their clients’ unique financial situation, positions our planners to have a significant competitive advantage when advising affluent investors. StatementOne’s aggregation capabilities will play a critical role in providing us the data required to power our new wealth management platform and our next generation of sophisticated planning tools.”

According to LFA’s Chief Information Officer, James E. Erickson, “The aggregation of client account data will provide our planners with a more comprehensive view of their clients’ holdings. This aggregated data enables LFA to provide our planners with the capability to see a clear picture of their clients’ complete financial situation. This enables us to create a customized financial plan that integrates their estate, investment and retirement needs so that we can effectively assist them in accomplishing their financial goals. By having the aggregated data pushed directly into our sophisticated analytical and diagnostic tools, planners will now spend less time gathering client account data and more time analyzing and creating solutions. We looked very closely at StatementOne during the due diligence process and concluded that they are really the premier provider capable of delivering scalable, accurate data.”

“We’re very excited to be working with LFA/Sagemark Consulting to power their best-of-breed financial planning and wealth management platform in this venture, which will showcase the data management expertise that we’ve honed over the past several years,” said Greg Pacholski, StatementOne’s President and Chief Operating Officer. “Through some fairly sophisticated, proprietary data-cleansing techniques, we’ll be providing Lincoln with consolidated, daily transaction-level data. They’ll use this data to power their new wealth management platform, enabling their advisors to better serve their clients.”

Adds Pacholski, “Lincoln joins a growing number of our pure ‘data replication’ clients, and it underscores both the value of the transaction-level data and, more importantly, the added value we provide through our specialized collection and normalization process. StatementOne’s consolidation solution provides a proven way in which financial institutions can help boost their top-line revenue, while at the same time reducing administrative costs. It’s a win-win solution all around””

About Lincoln...

Lincoln Financial Advisors, a broker-dealer and registered investment advisor, and Sagemark Consulting, a division of Lincoln Financial Advisors, are members of Lincoln Financial Group, the marketing name for the Lincoln National Corporation (NYSE: LNC) and its affiliates. Lincoln Financial Group has consolidated assets of $98 billion and annual consolidated revenues of $6.4 billion. Through its wealth accumulation and protection businesses, the company provides annuities, life insurance, 401(k) plans, mutual funds, managed accounts, institutional investment and financial planning and advisory services.

StatementOne currently manages account data for 43 financial institution clients, representing nearly one hundred fifty billion dollars in assets, tens of thousands of financial advisors, and millions of investors and individual accounts. Their current clients include independent broker/dealers, banks, credit unions and other financial institutions.

For more information contact StatementOne at marketing@statementone.com.