ecurity Trust Company (STC) is launching the Advisor Advantage
master-custody service platform for registered investment advisors (RIAs), offering its flagship data aggregation services in an advisor back-office platform.
Nancy Murphy, vice president at STC, told the MFWire.com that the platform was launched with its first client, San Jose-based RIA PGR Solutions, which targets high-net worth individuals, IRAs and other institutional clients.
The platform's complete back-office infrastructure includes Web reporting, trading and settlement of mutual funds, cashiering, invoicing and administration of separately-managed accounts.
The data aggregation that anchors the firm's automated systems will give RIAs one-source access to information on all investment transactions within an account, even from multiple investment sources, according to Grant Seeger
, CEO of Phoenix-based STC.
Connections with more than 30 NYSE member firms allow STC to receive asset data files, and serve as a single source for asset data collection, reconciliation, and reporting.
STC also will provide automated daily trading and exchanges in unitization of separately managed accounts; company stock and cash, and fund of funds; and individually directed brokerage accounts with multiple brokers.
The results will help RIAs focus on investment research, analysis and client interaction, said Seeger.
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