MutualFundWire.com: Wiesenberger Finds New Partner

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Monday, June 18, 2001

Wiesenberger Finds New Partner

Wiesenberger and financeware have started holding hands for the next version of the recently-released Advisorviewpoint module of Thomson Advisor. Version 1.1, due for the third quarter of this year, will integrate financeware's Monte Carlo financial planning tools.

Why not do it on their own?

"We can't do this alone, and I don't think anyone can do this alone, so we have a best of breed approach," said Ramy Shalaan, senior fund analyst at Wiesenberger.

Wiesenberger's grander vision is to construct a comprehensive platform for advisors, an ambition for which the firm is enlisting outside partners. AdvisorViewpoint is one of three basic components of the final product: Thomson Advisor. There will also be a component for the investor client and one for the advisory firm, both as yet unnamed.

Thomson Advisor will ultimately combine trading, account aggregation, and even compliance. Shalaan stressed that Thomson's backing provides the firm with the musclepower to even consider embarking on the project.

In some ways, Wiesenberger's decision to develop Thomson Advisor hinges on the overall trend towards fee-based advice; as the field of financial intermediaries homogenizes, the deeper value of advice percolates to the surface.

"There's going to be no difference between brokers and advisors except how they handle the relationship with the client," said Shalaan. "The wealth management solution is going to enable advisors to collaborate and work smoothly with clients."

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