Source: Bear Stearns
Bear, Stearns Securities Corp. and RiskMetrics Group announced today they have entered into an agreement to offer RiskMetrics Group's WealthBench technology platform to independent investment advisors and family offices via the Bear Stearns WealthSET wealth management solution.
Investment advisor clients of Global Clearing Services are now able to access WealthSET's institutional quality risk analytics, investment planning, asset allocation and proposal generation capabilities.
WealthSET's broad and sophisticated capabilities include:
Risk Management & Analysis: conduct what-if scenarios, event stress testing, diversification analysis, holdings-level risk analyses (VaR, XLoss and others).
Portfolio Construction: create flexible custom portfolios to match client specific risk/return objectives.
Simulation-Based Optimized Asset Allocation: establish a personalized investment strategy based on specific cash flows, tax status, time horizon, and client risk tolerance.
Client Proposal: generate professional advisor-branded proposals to summarize the client's financial situations and help advisors articulate their personalized approach.
Commenting on the arrangement John Tyers, Managing Director and manager of Investment Advisor Services Sales for Bear Stearns, said, "Our partnership with RiskMetrics Group delivers on our commitment to help leading advisors retain clients and win business from the best firms in the private wealth management business. WealthSET has tremendous power to help improve advisor-to-client communication concerning topics such as quantifiable portfolio risk, asset allocation, and wealth projections."
Also commenting from Bear Stearns, Rich Cancro, Managing Director and manager of Investment Advisor Services Product Development, said, "Through RiskMetrics we are able to offer an institutional quality solution that independent advisors have not until this point been able to access. Not only will advisors have access to security level risk analytics, full cash flow investment planning, single and multi-period optimization methodologies and a very professional quality client proposal, but they'll have access to these tools through an easy-to-navigate workflow which automates many complex labor-intensive tasks. Our clients' responses to WealthSET have been overwhelmingly positive."
Michael Neff, Head of Wealth Management for RiskMetrics Group commented, "The most solid, long-term financial plans are those that enable advisors and their clients to match the right level of risk tolerance with the desired return over a projected time horizon. With the integration of our WealthBench platform, independent advisors serviced by Bear Stearns will now have our sophisticated combination of investment planning and risk budgeting tools available right at their fingertips. We're pleased to be working with Bear Stearns to help bring a greater level of transparency to the marketplace."