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Rating:NewRiver Rolls Out Advisor Tool Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, June 07, 2004

NewRiver Rolls Out Advisor Tool

Reported by Theresa Sim

Data and technology provider NewRiver has added a new product to their lineup. FundPOINT Desktop, a product for advisors trying to keep updated with the newest fund processing rules, was released last Wednesday.

The web-based product provides access to the latest fund processing and trading rules in SEC EDGAR filings, on a fund by fund basis. The product, which took 30 to 45 days to develop, evolved out of NewRiver's Prospectus Express and Breakpoint Complete products, said Jeff Levering, a managing director at NewRiver.

FundPOINT Desktop is intended to replace the makeshift solutions that brokerages are currently using, which Levering says either fall into two camps -- using paper prospectus and their updates, or with larger brokers, or relying on groups devoted in-house to the effort.

Advisors can access 200 individual data elements, such as Load Tables, Rights of Accumulation, Letters of Intent and NAV transfers for every front-end loaded fund in the U.S. All of the data for the tool, and all of NewRiver's tools, comes from SEC filings.

Among others, the data and technology provider will target the client base currently using their Breakpoint Complete product, said Levering. The company will start by targeting their traditional markets, broker dealers, first, with extended efforts to financial planners and others after a few months, Levering added.

The product's price is based on the number of employees of an operation, with scaled per person costs. 

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