Sound Income Strategies, a registered investment advisory (RIA) firm with more than $1.4 billion in assets under management (AUM), has implemented RedBlack, an intelliflo solution, which is a leading wealth management industry provider of rebalancing and trading software.
Using RedBlack enables the firm to create block orders for best execution on one platform across multiple portfolios.
Sound Income Strategies required a more sophisticated, multi-asset software platform that provides household-level rebalancing, advanced drift reporting, independent trading, FIX connectivity with block order capabilities, and integration with their key partners.
Eric Lutton, CFA, Chief Investment Officer at Sound Income Strategies, said: “As we grew, we became keenly aware we would need a new platform to streamline reporting, trading, compliance, and portfolio-specific customizations. Adding RedBlack gives us all that with the highest levels of accuracy and efficiency. The platform provides a great deal of sophistication, flexibility, and efficiency that we needed and now we can monitor for drift and run ‘what-if’ scenarios prior to execution, plus dynamically align and rebalance portfolios across our entire book of business.”
“RedBlack makes it more efficient for firms to build and manage a universal modeling strategy, and customize clients’ retirement and tax strategies at scale. Ultimately, this allows for more client engagement,” said Jennifer Valdez, President, Americas for intelliflo. “Our dynamic model capabilities are especially appealing to firms like Sound Income Strategies, who have many sophisticated models and strategies, and need customization and workflows to drive greater scale across rebalancing, trading, and order management.”