News

American Portfolios Licenses StatementOne's Consolidated Reporting Platform...

LAWRENCEVILLE, NJ, USA
AUGUST 15, 2001

StatementOne, the industry leader in enterprise financial data aggregation and performance reporting, announced today that American Portfolios has signed an agreement to integrate StatementOne's proprietary data consolidation and performance reporting platform into American Portfolios' technology infrastructure.

Headquartered in Holbrook, NY, American Portfolios Financial Services was founded by a group of independent financial professionals whose primary goal was to offer their clients solid investments without the pressure of having to sell proprietary products normally associated with traditional broker-dealers. "Through continually improving our support services and information technology systems, American Portfolios has maintained the ability to meet our own high standards for quality financial services to our clients," said Lon Dolber, American Portfolios' chief executive officer. "The relationship with StatementOne helps to solidify our commitment to and preparedness for meeting our clients' goals in the 21st century. Having timely access to transactional data and performance reporting will help our representatives make the most of their time, and provide a higher level of service and responsiveness to our investor clients."

StatementOne currently manages account data for over $54 billion (U.S.) in assets, representing more than 13,000 financial advisors and over 1,000,000 investors. They provide a secure, Web-based, turnkey service which delivers securities account aggregation, consolidated statements and performance reporting to branch managers, registered representatives and their clients (investors). Utilizing direct data-feeds from custodians and clearing houses, it maintains data accuracy and relationships without the aid of the labor-intensive manual data-gathering or service bureaus often required with other portfolio management solutions. Powered by a data processing system known as the Financial Data Network (FDN), StatementOne gathers, cleans and normalizes diverse transaction-level financial data directly from custodians and clearing houses, and makes it available for consolidated performance reporting, securely and in real-time. "

"Overall, we were pleased with the robustness of the StatementOne platform, as well as their obvious commitment to advancing the industry through technology," adds American Portfolios' Dolber. "Their short implementation timeline will enable us to get our representatives up and running quickly on the system, further enhancing our ability to provide better service to our clients."

"We're pleased to have been selected by American Portfolios for their data consolidation needs," said Jake Rohn, StatementOne's svp, product development. "They are a forward-thinking organization, and see the immense value of having enterprise data available to all aspects of their business. It provides them with valuable insight into the investing behavior of their end customer, and provides their representatives with the tools required to be competitive and gather additional assets. The effective use of the Web for representative/investor communications is a critically important evolution for the financial industry, and we provide a proven technological solution that helps them to meet this challenge, and also helps to reduce their administrative costs."

About StatementOne...

StatementOne consolidates investment account information to power best-of-breed applications for institutions within the Financial Services industry. Using proprietary, state-of-the-art technology, StatementOne collects, cleanses and normalizes transaction-level data for use in data-mining, CRM, and Compliance applications.
The company's first-line product is a Web platform called "StatementOne.com," a performance-optimized tool designed to give financial institutions, their financial advisors and their investor clients powerful consolidated statements and performance reporting.

Since first launching the service in October, 2000, StatementOne now provides consolidated statements and performance reporting for over $54 billion (U.S.) in assets, representing more than 1,000,000 investors. StatementOne's current clients include Cal Fed Investments; Askar; Cambridge Investments; Long Grove Trading Company; Financial Services Corporation (a subsidiary of Sun America); and ING Advisors Network (a subsidiary of ING Group's U.S. Retail Financial Services division). Four of ING's independent B/Ds have launched the program. Those B/Ds include Locust Street Securities, Inc., Multi-Financial Securities Corp., IFG Network Securities, Inc. and VESTAX Securities Corp.

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