US-based OFI Private Investments, a subsidiary of OppenheimerFund, has licensed CheckFree's Investment Services' M-Pact, a Web-based application that automates separately managed account (SMA) sales processes.
OFI Private Investments provides money management services through fee-based platforms from registered brokers, dealers and investment advisors. The firm is rolling out a customised version of M-Pact to 25 sales and marketing staff at its New York, Denver and Rochester offices.
OFI will use the system to analyse investments and create proposals for its advisor clients. Users will work with clients to create and model portfolio blends, recommend investment capabilities and provide analysis and reports on individual products and portfolios.
The system incorporates separate accounts information with flexible data sets on multiple SMA products and strategies, and includes tools for client profiling and asset allocation modelling. Clients can customise and private label services that are provided using the application.
Alex Marasco, CheckFree Investment Services executive vice president and general manager, says the product "enables managers to sell more accounts and better service their sponsor relationships, because it offers comprehensive, separately managed accounts data and tools for creating value."
Jennifer Sexton, OFI Private Investments vice president and director of managed accounts, adds that M-Pact is an effective sales tool for wholesalers to present OFI Private Investments relative to other managers.
CheckFree says Charles Schwab licensed and customised M-Pact earlier this year and introduced it under the private label, Money Manager Analysis and Proposal System (MMAPS) to independent investment advisors at Schwab Institutional.