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London Pacific Advisors (LPA) and ORBA(R) Financial Management Announce Strategic Partnership
PR NEWSWIRE - January 30, 2002 08:35
LONDON and SACRAMENTO, Calif., Jan 30, 2002 /PRNewswire-FirstCall via COMTEX/ -- London Pacific Group Limited (NYSE: LDP) (London Stock Exchange: LPG) and ORBA(R) Financial Management, a nationally recognized leader in the financial services industry, announce a strategic partnership that provides ORBA's(R) more than 575 financial advisors with LPA's industry-leading turnkey asset consulting services.
ORBA(R) Financial Management recently launched to its advisors the STAR Investment Allocation Account system, its own private-labeled fee-based program utilizing LPA's manager due diligence and state-of-the-art technology. The system, powered by LPA, offers ORBA(R) advisors a full range of web-enabled services to support them in the asset consulting process, from marketing and training to operations and support. All of the manager research and marketing materials needed to present and service managed accounts can be found on the STAR system.
The whole process of designing a portfolio of separate account managers (SAMs) and mutual funds has become streamlined. "Clients benefit because their advisors have access to separate account managers and mutual funds that have passed LPA's stringent due diligence process," Brendan McLaughlin, National Director of Managed Accounts with ORBA(R) Financial Management, said. He added that ORBA(R) advisors will realize a significant time savings by leveraging completely automated tools, including client data management, client proposals, portfolio analyses, asset allocation, manager search, investment selection, and investment policy statements. They will also be able to administer all client accounts using the unique STAR Investment Allocation Account system.
"Our web-based technologies allow us to deliver our services to ORBA's(R) advisors wherever and whenever they desire. All advisors have to do is enter their clients' financial information into the system, and the rest is done for them," said Michael Mayer, Chairman of London Pacific Advisors. "The efficiencies created by combining LPA's unparalleled technology capabilities with ORBA's(R) nationally recognized financial service expertise, makes this a dynamic partnership for all involved."
"LPA has been very flexible by catering to our needs to private label and customize our own unique system," said McLaughlin. "Our goal was to create a leading managed account program. We believe our relationship with LPA enables us to better compete in this marketplace." ORBA(R) is also utilizing LPA's portfolio accounting, monitoring, performance reporting, and invoicing services. |
