News

Cambridge Investment Research Licenses StatementOne's Consolidated Reporting Platform...

LAWRENCEVILLE, NJ, USA
JULY 11, 2001

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

Headquartered in Fairfield, Iowa, Cambridge is an "open architecture" national independent broker dealer with over $4.5 billion in assets under management. Their nearly 400 rep/advisors provide financial advice, services, and products to over 100,000 clients.

Because they do not restrict their reps as to the financial products and services they offer, and they have no "proprietary" products, the business models and mix provided through Cambridge reps are the most diverse in the independent broker/dealer space. "StatementOne will allow our rep/advisors to continue to offer the widest range of financial products and services, while greatly improving their ability to service and report on client assets and accounts," said Jim Guy, Cambridge's evp, business development. "This enhanced account tracking will take the high quality client services we offer to the next level. Adding this cutting-edge technology to our suite of high-end services solidifies our position as the broker/dealer of choice for those rep/advisors who wish to build a practice in a highly flexible, highly up-to-date, highly ethical and professional environment."

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 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.

"We're very pleased to have been selected by Cambridge for their data consolidation needs," said Greg Pacholski, StatementOne's chief technology officer. "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 advisors with the tools required to be competitive and to gather additional assets."

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 nearly $53 billion (U.S.) in assets, representing more than 1,000,000 investors. StatementOne's current clients include 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.