AdvisorCentral Launches Enhanced Transaction Capabilities for Financial Advisors and Broker-Dealers.Business Editors/High-Tech Writers BOSTON--(BUSINESS WIRE)--Oct. 21, 2003 Enhancements Mark First Use of Industry-Standard Fund/SPEED(SM) by an Account Aggregation Account aggregation is a method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place. Site AdvisorCentral, a core-business building portal for financial advisors and broker-dealers, today announced enhanced transaction capabilities for registered users. Advisors can now complete subsequent purchases, exchanges and redemptions through AdvisorCentral, and receive real-time verification that they have been processed. "AdvisorCentral's transaction features are easy to use and will dramatically increase our brokers' productivity," said Virgel Aquino, Vice President, Broker-Dealer Services, MetLife Securities, Inc. "Within seconds, they can complete trades and verify accurate processing of back-end information." "AdvisorCentral is launching transactions at an optimal time," said AdvisorCentral CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President Harold R. (Harry) Groom. "As market activity picks up again, automated trading provides a cost-effective way to improve client servicing. It provides timely execution of trades and reduces the risks of price volatility for the customer." Launch of AdvisorCentral's enhanced transaction capabilities also marks the first use of National Securities Clearing Corporation's (NSCC See National Securities Clearing Corporation. NSCC See National Securities Clearing Corporation (NSCC). ) Fund/SPEED(SM) transaction feature by an account aggregation portal. Fund/SPEED uses Extensible Markup Language See XML. (language, text) Extensible Markup Language - (XML) An initiative from the W3C defining an "extremely simple" dialect of SGML suitable for use on the World-Wide Web. http://w3.org/XML/. (XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. ), a common language for exchanging financial data and enabling real-time communications. Through AdvisorCentral, reps and planners will now have the ability to use a single point of entry to process purchase, redemption and exchange orders for multiple management companies participating on the site, including Fidelity Advisor, Putnam and Franklin Templeton Funds, who maintain separate transfer agent systems. Orders will pass through AdvisorCentral into the Fund/SPEED pipeline and from there into Fund/SERV(R), the industry standard for processing fund transactions before transmission to the fund companies. These fund companies are now working together with several key distribution firms to finalize implementation plans that will fully leverage enhanced transaction capabilities for their brokers. In addition, because Fund/SPEED provides open, industry-standard technology, once a fund company connects to Fund/SPEED, it can quickly distribute account information, in addition to transactions, to any front-end service that has tied into it without having to develop and manage a separate interface. About AdvisorCentral AdvisorCentral (advisorcentral.com) serves as a core business-building portal for financial advisors and broker-dealers--providing indispensable information, commentary, research, and workplace resources. AdvisorCentral is also a major marketing resource for participating mutual fund companies. Leveraging industry-standard technologies for ease of use, AdvisorCentral provides advisors with consolidated views of their clients' holdings across all participating fund companies and receives nearly two million monthly queries. While features may vary by investment company, AdvisorCentral offers a range of additional capabilities such as the ability to make purchases, exchanges and redemptions; view detailed historical transactions; calculate contingent deferred sales charges Contingent deferred sales charge (CDSC) The formal name for the load of a back-end load fund. contingent deferred sales charge A mutual fund redemption fee that is reduced or eliminated for specified holding periods. ; and directly link to participating funds' Web sites. AdvisorCentral is jointly owned by Fidelity Investments Fidelity Investments is a group of privately held companies in the financial services industry. It is made up by two independent but closely cooperating companies, Fidelity Management and Research Corporation (FMR Co. (R), Franklin(R) Templeton(R) Investors Services, Inc., Putnam Investments Putnam Investments was founded in 1937 by George Putnam. At the same time, he founded its first mutual fund offering, The George Putnam Fund of Boston.[1] Putnam has offices in London and Tokyo, and its headquarters is located in Boston, Massachusetts. and PFPC PFPC Professional Financial Planning Course (Canadian Securities Institute) Inc., a member of the PNC Financial Services PNC Financial Services (NYSE: PNC) is a U.S.-based financial services corporation, with assets of $92.0 billion. PNC operations include a regional banking franchise operating primarily in eight states and the District of Columbia, specialized financial businesses serving Group, Inc., and its service is free to advisors. Editors and reporters seeking interviews with AdvisorCentral should contact Dawn Ringel, Warner Communications, at 781-449-8456 or dawn@warnerpr.com. |
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