Wealth Manager Hefren-Tillotson Live on Charles River IMS
Consolidated platform automates investment advisory operations to support growing account volumes
Boston, Beijing, London, Melbourne, New York, Paris, Singapore and Tokyo – March 23, 2010 – Charles River Development (Charles River), a front- and middle-office investment software solutions provider, today announced that Hefren-Tillotson, Inc., a Pittsburgh-based wealth manager with over US$5 billion in assets, has implemented the Charles River Investment Management System (Charles River IMS) across its discretionary investment advisory operations.
The implementation, delivered on-time and on-budget, supports Hefren-Tillotson’s growth strategy by automating its portfolio management and trading capabilities, and ensuring real-time, pre-trade compliance across portfolios and customer accounts. Interfaces with Hefren Tillotson’s brokers and data and accounting providers allow users to automatically deliver mutual fund orders and equity allocations via Charles River IMS.
“Charles River understands the wealth management business,” said Donald Belt, Chief Investment Officer, Hefren-Tillotson. “Within days of going live, we significantly reduced the time spent calculating allocation targets, executing trades, examining the tax impact of potential trades, and rebalancing accounts. Through the use of Charles River IMS, we can ensure that trades are compliant throughout the day – in real-time and across our organization.”
“Charles River offers wealth managers like Hefren-Tillotson advanced capabilities for modeling, trading and monitoring mass affluent, high-discretion SMA and UMA accounts,” said Tom Driscoll, Managing Director, Global, Charles River Development. “Portfolio Managers and Financial Advisors can construct and rebalance portfolios, ensuring tax optimization across individual or multiple accounts and households.”
About Hefren-Tillotson, Inc.
Founded in 1948, Hefren-Tillotson is one of the oldest and largest full-service investment firms headquartered in Western Pennsylvania. Throughout our history, the firm has remained committed to a singular vision: to become and remain our clients’ most trusted advisor. Hefren-Tillotson earns that trust by providing comprehensive, unbiased advice surrounding all aspects of our clients’ financial situation.
Hefren-Tillotson Asset Management, the division implementing Charles River IMS, provides a full-range of investment management services for Pension Funds, Non-Profit Organizations, Endowments, Foundations, and Individuals. Our approach employs a centralized portfolio management team with an average of over 27 years of experience, utilizing disciplined long-term investment strategies. As a privately held entity, Hefren-Tillotson’s independence allows for objective evaluation and ongoing management of client portfolios. Our Asset Management services provide clients numerous benefits, including comprehensive financial planning, disciplined and objective portfolio management, a team approach, and a consistent program of communication.
About Charles River Development
Charles River Development is a front- and middle-office software solutions provider to more than 300 investment firms in the institutional, wealth management/trust, alternative, mutual fund, insurance, pension fund and fund administration/custody markets in over 35 countries. The Charles River Investment Management System (Charles River IMS) is an institutional-class multi-asset, multi-currency software suite that consists of five main modules: Charles River Manager for portfolio management and modeling; Charles River Compliance for real-time pre-trade, in-trade, post-execution and end-of-day compliance monitoring; Charles River Trader for order management, electronic trading and execution management; Charles River Post-Trade for the centralized management of trade matching, confirmation, and settlement workflow; and Charles River Performance for daily performance measurement, attribution, and performance risk.
Charles River IMS offers wealth management/trust capabilities to manage single, multi-sleeve and household wealth management accounts – either as an installed solution or hosted offering. Wealth management capabilities for UMA, UMH and SMA accounts include: advanced asset allocation models; portfolio manufacturing and discretionary management; tax optimization tools; client mandate and restriction compliance; and reporting. Charles River IMS integrates easily with complementary applications, such as Customer Relationship Management (CRM) and accounting systems, and is fully integrated with the broker-neutral Charles River FIX Network. Charles River’s service-oriented architecture handles very large complex account volumes. The Charles River Anywhere web-based workstation provides tools for real-time remote account and position monitoring, rebalancing, order generation, trading and report viewing.
Charles River IMS features a modern, proven, N-Tier service oriented architecture (SOA) that is highly scalable and supports continuous 24x7 operations. Message-based APIs and exposed Web Services facilitate rapid systems integration.
The system is fully integrated with the Charles River Network, a broker-neutral, financial network that incorporates global real-time electronic trading via FIX (Financial Information eXchange). Charles River also offers comprehensive FIX network and implementation services, as well as hosting and application management solutions.
Founded in 1984, Charles River maintains headquarters in Boston and primary offices in Beijing, London, Melbourne, New York, Paris, Singapore and Tokyo and has a local presence in every other major financial center of the world.
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