Source: Milestone Group
Milestone Group today announced it had successfully implemented pControl for unit pricing with Macquarie Financial Services Group.
This is the first "live" running of Milestone Group's pControl platform at Macquarie and it has been implemented to automate daily Unit Pricing at this stage.
pControl has been introduced in the Group's Adviser Services division which manages relationships with external financial intermediaries and provides sales service and product management of in-house and external products.
pControl has become the defacto standard for unit pricing across the funds management industry and is unique in its approach to fully automating Unit Pricing and related functions, even across complex interfunding structures. pControl is able to fully automate the daily funds processing cycle including reconciliations, unit pricing, interfunding, rebalancing and unitised order management.
pControl was implemented by Macquarie Adviser Services to provide their adviser clients with more detailed information and straight-through processing which aims to improve the efficiency of advisers' businesses.
Macquarie's commitment to introducing processes that will meet the daily needs of advisers and their clients resulted in them choosing pControl which will seamlessly integrate with Macquarie Adviser Services' other systems.
Neil Roderick, Executive Director of Macquarie Bank FSG said: "Unit pricing is a very topical subject in the industry at the moment. We needed a solution that would provide straight through-processing, enable us to grow our product set without adding resources and seamlessly integrate with our other applications. We were impressed by Milestone Group's approach and the level of automation that pControl enables."
Adviser Services have selected pControl as a key component of its business delivery platform. Macquarie joins an expanding group of managers looking to leverage proven next generation technologies to support a more sophisticated and controlled approach to fund processing."