Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:AdvisorCentral.com Off and Running Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, November 27, 2001

AdvisorCentral.com Off and Running

Reported by Tony Pennino

The four firms that last January announced the creation of AdvisorCentral.com, a web portal designed for financial advisors, have completed the platform. Those firms are Fidelity, Franklin Templeton, Putnam, and PFPC.

In charge of the new operation will be Joseph Grause, Jr., formerly head of American General Asset Management Company. He will hold the title of president and ceo.

In a news conference, Grause noted that the new company -- which is a separate entity from the four firms that founded it -- will be seeking sales and marketing staff to fulfill some important functions. "We are building a sales organization, a marketing organization. We are working to get other mutual fund companies on board. We also need to bring the broker/dealer to the site," he stated.

AdvisorCentral.com is designed to provide a one-stop portal to financial advisors to consolidate mutual fund account information, transactional capabilities, processing, and customer service. "Eventually, financial advisor will be able to see all of their clients' holdings in one place, across a number of mutual fund families," the executive added.

The service is free to the financial advisor, and the price is "competitive", according to Grause, for the mutual fund companies. "And they will only have to create a structure for one platform," he contended.

He also stated that there are approximately 45 fund families on the portal, which, in his words, "represent approximately 40% of the industry's assets." Part of the new marketing staff's duties will be to get more fund families onto the service.

"We have designed this service to answer the needs of broker/dealers, but it is an important service for the mutual fund companies as it gives them exposure to an important distribution channel," Grause said. Fund companies cannot include marketing material on the website, but they will be able to provide links to their own proprietary systems.

For the four partners, their data will only be available through AdvisorCentral.com. That will not be a requirement for other companies that sign on. "We were looking to build an industry standard platform here, not a proprietary system," the executive opined.

Though designed for retail products, Grause sees a point in the future -- perhaps two years down the road -- when AdvisorCentral.com could be used for other products as well.

Related Story:
  • Portal Portents; January 17, 2001. 

    Stay ahead of the news ... Sign up for our email alerts now
    CLICK HERE

  • 3.0
     Do You Recommend This Story?



    GO TO: MFWire
    Return to Top
     News Archives
    2019: Q4Q3Q2Q1
    2018: Q4Q3Q2Q1
    2017: Q4Q3Q2Q1
    2016: Q4Q3Q2Q1
    2015: Q4Q3Q2Q1
    2014: Q4Q3Q2Q1
    2013: Q4Q3Q2Q1
    2012: Q4Q3Q2Q1
    2011: Q4Q3Q2Q1
    2010: Q4Q3Q2Q1
    2009: Q4Q3Q2Q1
    2008: Q4Q3Q2Q1
    2007: Q4Q3Q2Q1
    2006: Q4Q3Q2Q1
    2005: Q4Q3Q2Q1
    2004: Q4Q3Q2Q1
    2003: Q4Q3Q2Q1
    2002: Q4Q3Q2Q1
     Subscribe via RSS:
    Raw XML
    Add to My Yahoo!
    follow us in feedly




    ©All rights reserved to InvestmentWires, Inc. 1997-2019
    14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
    Privacy Policy :: Terms of Use