Merrill Lynch’s wealth management group will be changing market data providers after a two-year review of its data needs, which will mean a move away from the offerings of Thomson Reuters to the deployment of FactSet’s market data products. The agreement is an expansion of a previous relationship between Merrill Lynch and FactSet, a provider… Read More >>
Does Better Investor Literacy Spur More Efficiency?
(Editor’s note: GuidedChoice, a retirement advisory firm, has been what it can to educated investors either directly or as a fiduciary partner to financial services firms. The company, based in San Diego, Calif., began its odyssey by applying institutional software and other IT such as Monte Carlo simulations to the retirement concerns of ordinary investors…. Read More >>
Fiserv’s Unified Wealth Platform Embraces the Robot
(Editor’s note: A provider of an array of financial technology solutions, Fiserv is partnering with Marstone, a New York-based digital advisory firm, to provide the Powered by Marstone suite of digital investment advice solutions. The suite will be offered via Fiserv’s Wealth Management Network. FTF News was lucky to get time with Cheryl Nash, president… Read More >>
Vestmark Launches Robo Advice Platform
Vestmark Targets Brokers, RIAs, Asset Managers & Banks Wealth management technology vendor Vestmark is launching a hybrid “robo service” that blends human and automated advice delivery via robo-advice platform. The VestmarkONE Robo Solution has been designed to help advisors who need digital support via a turnkey offering. The vendor is targeting broker/dealers, registered investment advisors… Read More >>
RNC Genter Deploys Single-Point Access to Fiserv Network
Firm to Use Fiserv’s Asset Manager Connect Asset manager RNC Genter Capital Management is using Asset Manager Connect from Fiserv to “increase access to managed account sponsors and grow their client base,” officials say. The Asset Manager Connect links lets firms easily communicate with managed-account sponsors across the Wealth Management Network from Fiserv, officials say…. Read More >>
Hosting is a Serious Business: Fiserv
(Editor’s note: Many securities firms are embracing the hosted option be it a cloud-based offering, an application service provider (ASP) model or a “something-as-a-service” implementation. While much is made about the hands-off aspects of these hosted situations, operations staff members still have a lot of interactions with third-party suppliers. Tirdad Shojaie, senior vice president, product… Read More >>
Vestmark Platform Links Sponsors to Asset Managers
Vestmark, a software-as-a-service (SaaS) provider of portfolio management and trading solutions, has launched the Vestmark Manager Marketplace (VMM), which is intended to connect asset managers to sponsors such as registered investment advisors (RIAs), banks and broker-dealers. The VMM service facilitates sponsors’ links to third-party management in model portfolio format or in separately managed accounts (SMAs),… Read More >>
Credit Suisse to Slash 4,000 Jobs in 2016
Credit Suisse will be cutting approximately 4,000 positions including employees, contractors and consultants as part of a major cost-cutting effort as the Swiss banking giant faces a steep loss for the fourth quarter of 2015 and a loss for the year. The loss for the fourth quarter of 2015 was a steep drop of 5.8… Read More >>
Vestmark Buys Technology from Advanced Objects
Vestmark, a software as a service (SaaS) provider of portfolio management and trading solutions, reports that it has acquired for an undisclosed amount the proposal generation and sales analytics technology from Advanced Objects, a Chicago-based provider of financial technology and consulting services. The Advance Objects technology will be integrated with VestmarkONE, Vestmark’s unified wealth management… Read More >>
DTCC Targets Internal Account Transfers for Alt Investments
The DTCC, a post-trade services and systems utility provider, reports the launch of its alternative investment products (AIP) service, a new capability within its wealth management services (WMS) business to streamline the processing of internal account transfers for alternative investments. With the AIP service, “market participants can now fully automate account transfers for non-traded real… Read More >>
