DirectAdvice Named Leading Provider of Wealth Management Solutions.Business Editors HARTFORD, Conn.--(BUSINESS WIRE)--Jan. 23, 2002 Celent Report Cites DirectAdvice's Customization Ability, Comprehensive Planning "Comprehensive Plan" is a term used by land use planners to describe a set of goals and policies developed by a municipality to accommodate future growth. Typically the comprehensive plan will look at estimated growth within a specific time period, for example, 20 years. Model, Platform Flexibility and Strong Partnerships as Key Factors in Selection DirectAdvice, Inc., the global leader in Internet-based 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 and advice technology, announced today that in a report just published, Boston-based research and advisory firm Celent Communications ranks the company as one of the top two providers of wealth management solutions. Entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: , "Ranking the Vendors of Wealth Management Platforms: Just the Beginning?" Celent's report highlights several features that contribute to DirectAdvice's overall ranking including the proprietary tools that enable the company to quickly and cost-effectively customize its services for financial institutions, and its holistic view of a customer's holdings. The report further cites DirectAdvice's rich functionality, flexibility of platform and strong partnerships as key factors contributing to the company's success. In researching the report, Celent interviewed 30 wealth management solution providers and performed detailed evaluations of the top 12 that had fully developed solutions ready for implementation. To qualify for the top 12, at least one client had to be using the company's system, and it had to provide tools and services for both advisors and end-users. Wealth management is defined by Celent as products and services developed to assist both high net worth individuals and those with investable assets totaling between $100,000 and $1 million. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Isabella Fonseca, co-author of the report, "Thanks to the strong partnerships that DirectAdvice has formed, as well as to the flexibility of its platform, DirectAdvice has been very successful in its global business strategy which is to localize lo·cal·ize v. lo·cal·ized, lo·cal·iz·ing, lo·cal·iz·es v.tr. 1. To make local: decentralize and localize political authority. 2. the service for different markets worldwide." "Being named as one of the top two players in the wealth management systems industry reaffirms our confidence that DirectAdvice's comprehensive financial planning solution and enabling technology meet a critical business need for all types of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies today," said Brian L. Hollander, 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 DirectAdvice. "We believe we are uniquely positioned to enable financial services companies to build and manage customer-centric, advice-based relationships, and we look forward to working with our growing list of clients worldwide to help them achieve their business objectives," he continued. DirectAdvice provides web-based financial planning and advice technology to global financial institutions, including banks, brokerage firms and insurance companies, as well as financial services intermediaries, worksite marketing companies and major online portals. In the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , customized versions of DirectAdvice's online planning and advice technology are being used by a number of clients including AYCO, Mellon Financial  This article or section may contain a proseline.Please help [ convert this timeline] into prose or, if necessary, a . Services, People's Bank Peo´ple's bank 1. A form of coöperative bank, such as those of Germany; - a term loosely used for various forms of coöperative financial institutions. , Pershing, SunGard, Wachovia, as well as companies with whom they do business. DirectAdvice has had considerable success localizing its service for different markets and regulatory requirements Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. worldwide, reflecting the Celent report's predictions of increasing adoption rates of wealth management systems in Europe and the Asia-Pacific region through 2005. Regulatory-compliant versions of DirectAdvice's platform are being used by international financial services giant AMP in Australia and by major financial institutions in Japan and Germany. Because of the inherent efficiencies of DirectAdvice's Internet-based service, institutions can market advice and planning profitably to many more customers than they ever could before. The flexibility of DirectAdvice's comprehensive, multi-goal financial planning technology enables financial institutions to utilize one platform that can be customized and adapted to meet the needs of many different client groups that the institution may serve, with interfaces that support Advisors at the desktop, CSRs in a Call Center, or self-directed customers at home. The platform also offers external support applications, such as data aggregation and transaction engines, along with an integrated suite of advisor tools including online collaboration software See collaborative software. , inbound in·bound 1 adj. Bound inward; incoming: inbound commuter traffic. Adj. 1. inbound email management, outbound email development, and campaign execution and content management. Institutions employing the DirectAdvice platform have the ability to efficiently and cost-effectively service a far higher volume of qualified customers, sell additional financial products and accumulate more assets. About DirectAdvice, Inc. DirectAdvice, Inc. is a leading provider of customized, hosted financial planning and advice services to financial service organizations worldwide. The company's platform enables financial services organizations to deliver personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. planning and advice to individuals directly or in conjunction with Financial Advisors and Call Center support. In the United States, versions of DirectAdvice's online planning and advice technology are currently in use by Ayco, Mellon Financial Services, People's Bank, Pershing, SunGard, Wachovia, and companies with whom they do business. The platform is also being used by international financial services giant AMP in Australia and by major financial institutions in Japan and Germany. DirectAdvice is a Registered Investment Advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in with the United States Securities and Exchange Commission. In October 2001, DirectAdvice signed a $16 million staged financing plan with global private equity firm Warburg Pincus Warburg Pincus is a private equity firm with offices in the United States, Europe and Asia. It has been a leading private equity investor since 1971. The firm currently has approximately $14 billion under management, and invests in a range of industries including information and . Other investors in the company include Softbank Finance, UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System PaineWebber, Royal & Sun Alliance , and Incam AG,. For more information about DirectAdvice, visit www.directadvice.com . About Celent Communications Celent Communications is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology, and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent's research services cover the following eight sectors of financial services: Retail Banking, Wholesale Banking, Retail Trading, Institutional Trading, Personal Insurance, Commercial Insurance, Mobile Financial Services, and European Financial Services. For inquiries, visit www.celent.com; email info@celent.com. |
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