InvestEdge, Inc., the fastest-growing provider of web-based wealth management software to large investment firms, and Evare, LLC, a leader in financial data acquisition, enrichment, transformation and delivery, today announced a technology alliance. Through the agreement, firms utilizing the InvestEdge ASP platform have access to reconciled, report-ready client data from virtually any custodian via Evare’s managed service.
The combination of InvestEdge and Evare provides advisors with a fully automated process for gathering balance, positions, and transactions data for held-away assets. The reconciled data feeds eliminate the inefficiencies inherent to traditional means of collecting, normalizing and categorizing asset-level data, resulting in more timely and accurate reconciliation, performance analysis, and client reporting.
Together, InvestEdge and Evare fill a major void for investment firms—especially those managing high net worth and ultra high net worth accounts. While InvestEdge has active integrations with every major books-of-record system, advisors and their clients want a unified snapshot of assets and performance, regardless of where they are held. Whether firms are managing assets internally, using third-party managers, or a combination of both, they now have a single source for the data and tools required for analyzing and reporting on the complete investment picture of each client.
Jeff Cowley, Vice President of Business Development at InvestEdge, says Evare was selected for the alliance following a comprehensive evaluation of the industry’s data aggregation providers. “Several factors set Evare apart,” he states. “The company has a very broad reach with financial institutions. This significantly reduces the time to get an investment firm up and running. But more importantly, Evare does not screen scrape; they have direct connectivity to the quality data our clients demand.”
According to Frederick Stanley, Chief Executive Officer of Evare, InvestEdge ASP provides an ideal system for presenting the data his firm collects. “InvestEdge has the processes and features in place for making large volumes of data manageable. Their portfolio management, performance measurement, and client reporting features are a powerful tool for delivering the personalized service and advice high-value investors expect.”