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Press Release

Charles River Unveils Wealth Hub to Automate Asset Manager-Sponsor Communications

July 9, 2014

Boston – Charles River, a front and middle office investment management solution provider, today unveiled the Charles River Wealth Hub which allows asset managers with managed accounts to consolidate trades and securely distribute account and model updates to all applicable sponsors in a single click. The Wealth Hub will be available for general release to Charles River Investment Management Solution (Charles River IMS) Version 9 users following completion of beta testing with client partners. Non-Charles River IMS asset managers and sponsors will also have access to the hub via a single, web-based dashboard.

“Cost constraints and the lack of industry standards make it difficult for asset managers and multiple sponsors to efficiently exchange trade, account and model information,” said Tom Driscoll, Global Managing Director, Charles River. “The Charles River Wealth Hub bridges the gap and ensures timelier and more accurate data transmissions by automating processes that are repetitive and prone to error. It eliminates the need for asset managers to upload the same critical data to each sponsor’s platform. This increases productivity, reduces risk and strengthens investment decision support for all parties.”

“Consolidating information silos to improve efficiency is a key trend for back-office operations at financial services firms,” said Isabella Fonseca, Research Director, Global Financial Services, Celent. “Standardizing and automating processes to reconcile information across product lines is key for improving communication and performance. Firms will benefit from a single point of access to manage all of these interactions.”

The integrated wealth hub is part of Charles River’s enterprise wealth management solution that helps firms improve advisor productivity, increase efficiencies, bring new products to market quickly, and offer clients more customized solutions. Charles River’s wealth management solution supports a variety of products on a single platform ranging from basic advisory to the sophisticated needs of ultra-high net worth clients. The solution’s open architecture and modern technology is highly scalable and supports thousands of users, and large volumes of accounts and trades. Flexible delivery options include desktop, web browsers and mobile access.

About Charles River

Charles River provides an end-to-end solution to automate front and middle office investment management functions across asset classes on a single platform. The solution offers a simplified operating model that includes enterprise software, data, application management/upgrades, hosting and FIX network to improve investment professional productivity, control risk and lower technology costs. Charles River serves more than 350 investment firms in 43 countries in the institutional asset and fund management, private wealth, alternative investments, insurance, banking, and pension markets.