UK-based retail brokerage Barclays Stockbrokers has chosen New Jersey-based CheckFree Investment Services to automate its Barclays Managed Account Program (BMAP). This is a separately managed account service for high net-worth individuals.
Its CheckFree APL Wrap system offers professional money managers and financial advisors remote processing services for investment management, trading, portfolio performance and investor reporting.
Barclays Stockbrokers will use CheckFree APL Wrap for trading, straight-through-processing (STP) and performance reporting. The Wrap Network will automate workflow among custodians and institutional money managers, including Brandes Investment Partners and Lazard Asset Management.
The brokerage expects to link up with more global money managers via CheckFree APL Wrap.