Albridge Solutions Inc., a PFPC Worldwide Inc. company, announced that detailed managed account performance reporting is available to financial institutions and financial advisors accessing Albridge Wealth Reporting. Financial Strategy Network, LLC, a Chicago-based financial advisory firm affiliated with Raymond James Financial Services, is the first client to implement this reporting solution.
Albridge’s new managed account reports also enable financial advisors to handle the intricacies of consolidated reporting on managed accounts and retail accounts under one enterprise wealth management platform. Traditionally, separately managed account (SMA) program managers classify assets according to their own proprietary methodologies, while a financial advisor commonly relies on security master-based asset classifications provided by a third-party service. Now, financial advisors working with clients who maintain SMA accounts can automatically produce one, uniform asset allocation that brings both methodologies together through Albridge’s managed account reports.
“This truly solves an industry difficulty related to asset classification,” says Sam Braun, director of investments, Financial Strategy Network. “While clients appreciate separate accounts and the flexibility they offer, financial advisors utilize them with the intent of filling an asset category. Albridge’s managed account reporting capabilities eliminate the burden and inefficiency of reconciling transaction data for financial advisors, enabling them to provide clients with the performance reporting information they actually wantdiversification and investment returns.”