October 5, 2015
LAWRENCEVILLE, NJ – Albridge, an affiliate of Pershing LLC, a BNY Mellon company, today announced the integration of Morningstar® ByAllAccountsSM service into its Albridge Wealth Reporting platform. The integration gives advisors more robust data through Morningstar ByAllAccounts, which aggregates all of the information from a client’s various accounts, including those that the advisor does not manage such as 401(k) and other held away assets.
“Many advisors face the obstacle of seeing only the assets they manage, this can prevent them from serving clients holistically,” said Anthony Johnson, director at Albridge. “Integrating the Morningstar ByAllAccounts service into the Albridge Wealth Reporting platform gives advisors increased levels of visibility of their clients’ financial pictures. Having a more complete view of a clients' financial picture may allow advisors to provide more effective interactions.”
The integration augments the Albridge Wealth Reporting platform by aggregating data from an additional 13,000 sources. Data from Morningstar ByAllAccounts can be used with Albridge’s Applink, which enables clients to share information between Albridge Wealth Reporting and a multitude of applications, including Morningstar® Advisor WorkstationSM, and third-party financial planning, client relationship management, and analytics tools.
“According to a recent CEB Tower Group study, 64% of highly successful advisors provide consolidated reporting on all of a client’s assets, including “held away” assets like IRAs or spousal accounts, both in monthly statements and through their website,” says James Carney, head of ByAllAccounts. “The integration of our service with Albridge is an extension of our belief that that the ability to choose any platform or investment vehicle is a fundamental requirement for advisory firms and their account holders.”
Albridge’s implementation of ByAllAccounts is currently in pilot and is expected to fully launch in the fourth quarter of this year. The addition of this service gives advisors more choice of data aggregation solutions to choose from on Albridge Wealth Reporting, which also offers data aggregation services from CashEdge.
Morningstar ByAllAccounts’ integration into the Albridge Wealth Reporting platform builds on the deep integration Albridge has developed with nearly 50 of the leading technology solution providers in the marketplace. Other solutions that have recently been added to the platform include FDBS, which offers a commissions solution, Advicent, which is integrating Albridge data and offering advisors a choice of three separate portfolio management tools appropriate for a diverse client set and Rixtrema and Riskalyze, both of whom offer distinct risk management solutions.
For more information visit www.albridge.com .
Albridge, an affiliate of Pershing LLC, is a leading provider of enterprise data management solutions that deliver a single view of an investor's broad range of assets. Our proprietary technology consolidates and reconciles client account and transaction data from hundreds of data sources representing banking, brokerage, insurance, retirement, managed accounts and more. Albridge processes this cleansed data and uses it to power a variety of downstream technology solutions, including performance reporting, sales practice monitoring, data warehousing, business intelligence, imaging and workflow. Albridge provides the foundation for financial organizations to leverage a single source of information to power a number of mission critical technology applications. Additional information is available at albridge.com.
Pershing and its affiliates provide global financial business solutions to advisors, asset managers, broker-dealers, family offices, registered investment advisor firms and wealth managers. A financial services firm located in 23 offices worldwide, Pershing provides business-to-business solutions to clients representing 6 million active investor accounts on the U.S. platform. Pershing affiliates are members of every major U.S. securities exchange, and its international affiliates are members of the Deutsche Börse, Australian Stock Exchange, Irish Stock Exchange, London Stock Exchange and Toronto Stock Exchange. Pershing LLC (member FINRA/NYSE/SIPC) is a BNY Mellon company. Additional information is available on pershing.com, or follow us on Twitter @Pershing.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of June 30, 2016, BNY Mellon had $29.5 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.