Advisory Firm Adds $14 Million in New Assets Using ByAllAccounts' WebPortfolio.Business Editors/High-Tech Writers BOSTON--(BUSINESS WIRE)--Nov. 11, 2002 Financial Data Consolidation Technology Eliminates Hours of Manual Data Entry and Identifies Opportunities for Growth for Financial Advisor ByAllAccounts, a wealth management data aggregator, today announced that its customer, Creative Financial Designs, Inc. (CFD CFD - Computational Fluid Dynamics ), a Registered Investment Adviser, has added $14 million in new assets and eliminated hundreds of hours of manual data entry in the first two months of using ByAllAccounts' WebPortfolio technology. Understanding the value of a holistic view in financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , CFD chose ByAllAccounts' WebPortfolio, a Web-based 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. and portfolio analysis solution, so that its financial advisors could view their client's entire financial portfolio, including data on captive and non-captive financial accounts. Once the advisors began using the technology they quickly identified new opportunities to capture additional assets from their clients; assets they had not been managing. WebPortfolio also is an asset to CFD because it has simplified consolidating client statements and greatly improving operational efficiency as a result. "We understood the power of WebPortfolio as a way to build our business," said Brent Owens, President of CFD Investments. "We originally committed to WebPortfolio because of its ease of use and its ability to automatically gather data and provide a holistic view of our customers' net worth. In just two months the technology has not only paid for itself by increasing assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. by $14 million, but we expect, in six months, WebPortfolio will help us generate an additional $15 - 20 million in new assets." "CFD financial advisors quickly made the connections between a holistic approach holistic approach A term used in alternative health for a philosophical approach to health care, in which the entire Pt is evaluated and treated. See Alternative medicine, Holistic medicine. to financial planning, in-depth portfolio analysis and a repeatable sales process A sales process is a systematic approach for performing product or service sales. The reasons for having a sales process include seller and buyer risk management, achieving standardized customer interaction in sales and scalable revenue generation. in building business." said L. Patrick Gardner, 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. of ByAllAccounts. "This relationship demonstrates how quickly WebPortfolio can be installed and leveraged to generate a significant return on investment." About ByAllAccounts ByAllAccounts, Inc. (www.byallaccounts.com) provides technology designed to grow assets for financial institutions and their advisors by collecting, monitoring and analyzing financial data from captive and non-captive client accounts enabling them to build stronger, more profitable client relationships. Industry analyst, Celent Communicaitons, recently ranked ByAllAccount's as the top rated advisor aggregation firm. The company's roster of clients includes State Street Corporation, RBC RBC red blood cell. RBC or rbc abbr. red blood cell RBC, n See red blood cell count. RBC red blood cells; red blood (cell) count (see blood count). Dain Rauscher Corporation, 1st Global, Evensky, Brown & Katz, WealthTouch, Creative Financial Centre and Private Family Networks. About Creative Financial Designs, Inc., a Registered Investment Adviser Creative Financial Designs, Inc., is a one-stop center for financial services, including bookkeeping for small businesses, financial planning for individuals, tax preparations, mortgage placements, investment planning and tax planning Tax planning Devising strategies throughout the year in order to minimize tax liability, for example, by choosing a tax filing status that is most beneficial to the taxpayer. . Creative Financial Designs was founded in 1969 and is headquartered in Kokomo, IN. For more information on Creative Financial Designs, visit www.cfconline.com. |
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