Private Client Resources, LLC (PCR), a leading outsourcing provider of private wealth reporting and integrated technology, and a major competitor of both Advent Software and Envestnet, has entered into a strategic partnership with StatPro, a developer of cloud-based portfolio analysis and reporting capabilities. Through this partnership, Private Banks, Family Offices and RIA firms using PCR’s award-winning Palette Platform will gain privileged access to an independent alternative for pricing, risk and portfolio performance data.
“The StatPro partnership builds on our successes to-date delivering exceptional service to our clients by bringing synergistic technologies onto the platform,” said Robin Williams, PCR’s Chief Product Officer. “In conjunction with PCR’s flexible private wealth aggregation and custom solutions services, users of PCR’s Palette Platform will now have access to, and control of, data that is consistent across front, middle and back office operations—everyone across their business will be looking at the same information. Errors will be avoided, costs saved and time more appropriately allocated.”
StatPro—a software as a service [SaaS] technology provider—delivers an alternative to installed, user centric and terminal-based front office analytics that don’t deliver what portfolio managers need: accurate, transparent, and timely analytics and market data distribution solutions.
"Wealth managers use a variety of technologies in their daily work lives to ultimately achieve a single goal: to serve their clients better,” said Andrew Peddar, COO, StatPro. “StatPro Revolution is a completely new approach that stays true to wealth managers’ goals by giving them a tool for faster, more accurate, risk and performance analysis, in a cost effective way. With less time spent on manual processes, they are freed to focus on managing their all-important client relationships.”
The strategic partnership with StatPro is the most recent example of PCR’s ongoing commitment to providing advisors with innovative solutions that help them gain efficiency, increase scalability and grow profitability. PCR’s open architecture platform allows for best-of-the-best capabilities to be delivered to its clients, whether these are developed in-house at PCR or brought onto their platform by the firm partnering with industry-leading third parties.