Maarten van Hengel, a founding Partner at Highmount, believes "the need for development of an electronic interface with multiple custodians was key in providing valued added advice for our clients." Highmount Capital has been using ByAllAccountâs flagship WebPortfolio service as their client internet access solution. During 2003, Highmount developed software enabling WebPortfolio
to interface over the internet with Highmountâs portfolio system, Advent Axys.
This software eliminated approximately 40% of Highmountâs manual administration requirements. Previously, their operations team was manually entering thousands of transactions per month from custodians for whom no interface was available. Coupling WebPortfolio and their interface meant that data could be obtained electronically and, once reviewed, fed seamlessly into the firmâs Advent
Due to the vision and success of Highmount Capital, ByAllAccounts has taken on the sales, marketing and development responsibilities, in order to offer this solution as a commercially available product named Axys Custodial Integrator ("ACI"). ACI, currently in beta testing, has been developed with three imbedded services: transaction interface, security pricing and position reconciliation.
James Carney, Chairman of ByAllAccounts, added "aggregation technology has gained a foothold in the wealth management community. We see the integration offered by interfaces such as ACI as being the key catalyst to stimulate broad adoption. Within a few years we expect that aggregation will be part of the fabric of how all wealth managers do business, and ACI will be the stimulus
toward reaching that goal."
For more information:
Maarten R van Hengel
Highmount Capital LLC
781-376-0801 x 129