CheckFree to License M-Pact to Charles Schwab; Customized Version Introduced to Investment Advisors With Schwab Institutional
Wednesday February 19, 9:00 am ET
ATLANTA and JERSEY CITY, N.J., Feb. 19 /PRNewswire-FirstCall/ -- CheckFree Investment Services, a division of CheckFree Corporation (Nasdaq: CKFR - News), today announced that Charles Schwab & Co. Inc. has implemented M-Pact, CheckFree's Web-based application for automating and streamlining the separate accounts sales, advisory and proposal process. CheckFree Investment Services is the leading provider of outsourced trading, portfolio management, accounting and reporting services to a majority population of broker/dealers and money managers in separately managed accounts (SMA).
According to a survey conducted in late 2002 by Cerulli Associates, a Boston and London-based research and consulting firm, 87 percent of investment management consultant advisors expect their separate account business to grow faster than their mutual fund business.
"M-Pact's intuitive structure enables financial advisors to quickly and easily grow, support and brand their separate accounts businesses," said CheckFree Investment Services Executive Vice President and General Manager, Alex Marasco. Powered by Mobius data on approximately 1,300 managers and 5,600 products, M-Pact offers tools for client profiling, asset allocation modeling, portfolio blending and proposal creation. M-Pact also incorporates separate accounts information, with flexible data sets on multiple SMA products and strategies.
Schwab customized M-Pact and introduced it under the private label, Money Manager Analysis and Proposal System (MMAPS), to independent investment advisors working with Schwab Institutional. MMAPS assists advisors with their managed accounts business, by making it easier to identify, screen and compare money managers and managed account products. A proposal system within MMAPS also allows advisors to assess a client's risk tolerance and time horizon, and view model or customized manager portfolios that best suit their needs. Advisors can generate printed investment policy statements, illustrating a client's chosen asset allocation, historical performance of multiple manager mixes and detailed profiles on each manager. Analysis of the selected managers with risk statistics, universe comparisons and benchmarks, are also available in customizable reports. . .
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