ByAllAccounts' WebPortfolio Selected By WealthTouch for Managers of High Net Worth Client.Business/Technology Editors BOSTON--(BUSINESS WIRE)--Jan. 28, 2002 Financial Advisors Build Presence in High Net Worth Market With New-Generation Data Aggregation Solution ByAllAccounts, Inc., the premier provider of sophisticated financial 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 solutions for financial advisors and their preferred clients, today announced that WealthTouch Inc., a technology solutions provider for wealth advisory firms, has chosen ByAllAccounts' WebPortfolio for the delivery of financial data and portfolio analysis for its clients. "Today's financial advisors have come to realize that first- generation aggregation is no longer enough," said L. Patrick Gardner, President and 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. "We provide an advanced solution that lets the advisor view the entire portfolio of a client -- both managed and non-managed accounts -- and supplement this holistic view with market data and analysis tools that support sound financial strategies to grow assets for their clients, themselves and their firm." At the core of ByAllAccounts' wealth management solution is a proprietary data collection and categorization technology that allows account information from more than 1,200 financial institutions -- including banks, brokerages, mutual fund companies, retirement plans and trusts -- to be automatically aggregated and analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. for the creation of consolidated investment portfolios. ByAllAccounts' WebPortfolio product is an advisor-client collaboration tool A collaboration tool is something that helps people collaborate. The term is often used to mean collaborative software, but collaboration tools were being used before computers existed, a piece of paper can for example can be used as collaboration tool. that allows investment advisors Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and and their preferred clients to analyze and view the aggregated data for all of their investment portfolios within a single, Web-based application See Web application. , on demand. WealthTouch typically serves firms that manage the financial affairs of high net worth individuals with complex portfolios and accounts housed in a variety of financial institutions. The company needed a solution that could provide real-time access to data at hundreds of financial institutions, avoiding the need to manually enter transaction information for each account. "WebPortfolio enables us to provide complete daily transaction data from both the retail and institutional sides of financial markets to wealth managers, which we haven't been able to do before," said Rick Higgins, CEO of WealthTouch. "Our professionals are able to quickly gather this critical information and create detailed metrics metrics Managed care A popular term for standards by which the quality of a product, service, or outcome of a particular form of Pt management is evaluated. See TQM. to make the data more meaningful to our clients. WebPortfolio is the only aggregation product that we have found that brings the added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
About WealthTouch, Inc. Denver-based WealthTouch (www.wealthtouch.com) is composed of accounting and technology professionals who provide back office services and consulting for the institutions that serve the high net worth market. The service, which operates on a proprietary Internet- based software platform, includes financial data aggregation, expense management, tax compliance and preparation of financial reports for family members, financial advisors and estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the professionals. WealthTouch services wealth managers of high net worth individuals with an average of $25 million and up in assets. About ByAllAccounts, Inc. With offices in Boston and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , ByAllAccounts, Inc. (www.byallaccounts.com) provides financial institutions and their trusted advisors, aggregated data and portfolio analysis solutions, enabling them to build stronger, more profitable client relationships. The company's roster of clients includes such organizations as State Street Corporation, Scudder Investments, 1st Global, CCC CCC A very speculative grade assigned to a debt obligation by a rating agency. Such a rating indicates default or considerable doubt that interest will be paid or principal repaid. Also called Caa. Alliance and Evensky, Brown & Katz. State Street Corporation recently announced that it has become a minority investor in the firm. |
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