STC Adds another RIA to Master Custody Platform
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Wednesday, April 09, 2003

STC Adds another RIA to Master Custody Platform

Seattle-based Elliot Cove Capital Management has signed on to Security Trust Company's Advisor Advantage master custody service platform. STC will essentially serve as the total back office solution for the registered investment advisor, which serves high-net worth individuals and IRAs.

Advisor Advantage offers Web reporting, trading and settlement of mutual funds, cashiering, invoicing and data aggregation. The comprehensive data aggregation feature gives financial planners and investment advisors one-source, aggregated access to information on all transactions within an account, even from multiple investment sources, said Grant Seeger, CEO of STC.

The program will help Elliott Cove's planners and advisors focus on investment research, analysis, and client interaction, added Seeger.

Advisor Advantage also features automated daily trading and exchanges in the unitization of separately managed accounts, company stock and cash, and fund of funds; which Elliott Cove may tap in the future, according to Nancy Murphy, vice president at STC. The RIA is also now designing fund of fund allocation models, she said.

The program, which was effectively launched earlier this year, also offers same-day/late-day trading of mutual funds and trustee services for retirement plans. Murphy noted that up to 10 more RIAs are expected to sign up this year.

Elliott Cove offers indexed-based investment portfolios through community banks, CPAs, financial planners, pension plans and 401(k) programs.

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