News

Focus Financial Network Selects StatementOne’s Consolidated Reporting Platform...

January 15, 2002

LAWRENCEVILLE, NJ — StatementOne, the industry leader in enterprise financial data consolidation and performance reporting announced today that Focus Financial Network has signed an agreement to integrate StatementOne's proprietary, web-based consolidated performance reporting platform into their technology infrastructure.

Based in Minneapolis, Minnesota, Focus Financial Network is a full-service independent investment advisory firm that serves employers and individuals. "Our strategic focus is to recruit and retain financial advisors" said Kyle Watkins, Focus Financial Network's executive vice president. He added, "StatementOne's consolidated reporting application will put us on a technological par with virtually any firm, providing our advisors a state-of-the-art tool to provide better service and advice to their clients. This will provide us with a competitive advantage when recruiting new advisors."

We're pleased to be working with Focus Financial Network," said Greg Pacholski, StatementOne's president and chief operating officer. He added, "StatementOne's consolidation solution provides a proven way in which financial institutions — and their advisors — can help boost their top-line revenue by increasing advisor productivity. Better still, it provides the institution with a technological incentive that will attract — and retain — new advisors."

About StatementOne...

StatementOne currently manages account data for over $86 billion (U.S.) in assets, representing more than 18,000 financial advisors and over 1,450,000 investors and 3,300,000 individual accounts. They collect transaction-level data sets from both legacy systems and external custodians, utilizing direct data feeds. Their proprietary software cleans, organizes and reconciles the data, producing a consolidated, unified data structure, with virtually no manual intervention. This database is then used to feed critical, best-of-breed applications for use in business planning, analytics and CRM.

The unified database is also the foundation for their web-based Consolidated Statements and Performance Reporting platform. This platform is private-labeled for financial institutions and is used by their financial advisors in offering their clients a more holistic and comprehensive view of their investment portfolios. It helps both the institution and their advisors boost top-line revenue while reducing administrative costs, and increases the probability of financial success for their investor clients.

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