Wechsler Ross & Partners is in the process of creating a Web design utility of its own. The New York-based marketing and design firm is jointly developing IPropose, a proposal generating system, with Tempest Software, based in Corvallis, OR.

"There are some on-line proposal systems, one of which we're developing, that will allow an advisor to create a proposal with current data, live data, that will put some of the fund company's holdings in there but also allow the broker to recommend other funds," explained Arnold Wechsler, chief executive officer at Wechsler Ross. "I think you'll see more of that, with the idea that 'we'll get our fair share.'"

With so many advisor sites going on-line, populated with a wide variety of tools, many of them do not address the practical needs of the users. Most proposal systems limit the available offerings to a single firm, sharply limiting the appeal of the tool. With Ipropose, advisors will be required to use only a certain minimum of funds from the host fund group.

"The advisor should be product-neutral and his or her advice should be based on both the clients' needs and the analytical value that he adds to the process," explained Wechsler.

 

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