SunGard and Albridge Solutions announced today the completion of data integration between SunGard's financial modeling and planning solution and Albridge's consolidated client data.
The integration provides the companies' mutual customers, which include registered investment advisors (RIAs), individual financial planners, and home office reps at broker-dealers, insurance companies and banks, with the ability to access Albridge's consolidated data through SunGard's PlanningStation solution. Users can benefit from automated access to high quality customer account data, increased productivity and consolidated views of customer assets.
Blaine Maxfield, president of SunGard's wealth management solutions business, said, "One of the biggest challenges in wealth management is having a complete view of the client's financial situation. SunGard's integration with Albridge helps users to leverage the data consolidation strengths of Albridge and use that information in a data collection process with SunGard's financial planning tools, which help advisors create an unlimited number of 'what if' planning scenarios and then update them instantly with account data from Albridge."
The financial planning process requires a baseline of data to be entered by the user, such as accounts and holdings, values, and CUSIPs/symbols for allocation analytics. Typically, this data is obtained either electronically through integration with a data aggregator or a direct data source such as a back office, or manually entered by the planner. The process is especially challenging for RIAs that traditionally maintain custody assets at multiple institutions. Therefore, consolidating client data from these multiple institutions into one data stream to feed an advisor's wealth management platform is critical to helping achieve greater productivity and data accuracy, and providing high-quality customer service.
"Wealth management technology solutions that provide one consolidated view of clients' accounts help advisors to more fully understand their clients' assets and measure the success of their financial plans," said Jake Rohn, executive vice president at Albridge Solutiotions. "Our open architecture approach helps financial advisors to efficiently access an accurate, holistic view of client data through SunGard's best-of-breed financial planning tools and wealth management solutions. Our mutual customers can then focus their efforts where it matters most for their businesses—expanding and deepening client relationships."
The Albridge integration with SunGard's PlanningStation, a stand-alone solution as well as a component of SunGard's WealthStation wealth management technology platform, is achieved via XML-based Web Services and will be provided to users in a Software as a Service (SaaS) or ASP environment. Albridge also provides replicated data services to a number of users of SunGard's Protegent Surveillance solution for suitability and pre- and post-trade compliance.
SunGard provides an integrated suite of services to help asset managers and advisors meet the financial needs of their clients and capitalize on growing opportunities in wealth management. SunGard helps organizations deliver on the promise of a more holistic and consultative client experience by providing an array of capabilities for client profiling and financial planning, asset allocation and portfolio management, securities processing and asset accounting, as well as consolidated client reporting and performance measurement.
Albridge provides enterprise wealth management services that deliver an accurate, single view of all of their clients' assets. Albridge collects and reconciles client account data from a financial institution's proprietary systems and from hundreds of disparate sources that include banking, brokerage, insurance, retirement, alternatives, trusts, and other financial information.