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First Rate Unveils First Rate Performance v6.3

First Rate today announced its newest software solution: First Rate Performance v6.3. As First Rate’s clients have grown their business, there has been a significant growth in assets under management and consequently, an increase in the number of portfolios measured. To support our clients' growth and to remain competitive, First Rate has developed new solutions to meet the current and future needs of the financial services marketplace.

“Like all of our products, the new solutions within First Rate Performance v6.3 are designed to be easy for wealth advisors to use and provide concise, meaningful reports for their clients,” said Deborah Repak, Director of Products at First Rate. “More importantly, these solutions allow advisors to immediately access the critical data on any given portfolio, empowering them to quickly analyze key data, respond to client requests and communicate the value of their investment strategy.”

One of the most significant changes to the performance suite is the addition of First Rate Advisor Express™, a streamlined extension of First Rate’s investment performance reporting tool, First Rate Advisor™. First Rate Advisor Express™ is simplified, yet just as powerful in providing analytical tools that help wealth advisors operate more effectively. It allows advisors to quickly search portfolios and produce client-ready presentations with a few clicks of the mouse, while the intuitive navigation provides easy access to performance information in point-to-point, daily and periodic presentations.

Another key solution introduced in First Rate Performance v6.3 is the ability to create composites without the support of back-office personnel. In First Rate Advisor™, each advisor can now select constituents and create temporary composites to support situational research. Additionally, they have the option to establish permanent composites that can be included in ongoing automated processing of performance data.

Moreover, First Rate Performance v6.3 includes several improvements to processing speed. In fact, processing time to build daily returns has been reduced by 20 percent with the ability to process 25,000 returns per second. Back-office auditors will experience up to 40 percent faster processing when identifying exceptions across all portfolios. In addition, each advisor will see a 50 percent reduction in processing time when rebuilding performance with a new asset price or accrual rate.

“We’re excited about the new enhancements to First Rate Performance™ allowing advisors to spend more time on proactive analysis, instead of reviewing and auditing investment performance,” said Repak. “Wealth advisor clients utilizing the pre-release version of First Rate Advisor Express™ have had extremely favorable experiences. The newest launch of First Rate Performance was developed with the intent to aid advisors in doing their jobs faster than before, with greater simplicity. It facilitates their ability to spend more time building mutually-productive relationships with their clients.”