Founded last year, Rudderham Norwood Ellison currently has $30 million (CAD) under administration and seeks to grow that amount to $100 million in three years with the acquisition of additional private and endowment clients.
"Using the Cadillac of portfolio systems and a top-end, back-office solution from FMC will enable us to approach pension plans as potential clients which is an important objective of our firm," said Scott Ellison, Founder and Partner, Rudderham Norwood Ellison. "Having access to FMCSuite within the context of an outsourcing framework gives us the ability to focus on client relationships and rapidly grow our business."
Unveiled last year, FMCSuite (v2.4) is a Web-based, global and scalable investment management platform for driving straight-through processing (STP). FMCSuite provides a wide spectrum of integrated functionality â modeling, trading, portfolio accounting, client communications and other mission critical workflows â in an "on-demand", application service provider (ASP) environment.
FMCOutsourcing enables firms to outsource all or a portion of account administration, reconciliation, performance measurement and client reporting. FMC also offers a comprehensive data centre facilities, communications infrastructure, back-up and business continuity.
"As a start-up looking to move quickly, Rudderham Norwood Ellison was attracted to the idea of deriving immediate benefits from FMCSuiteâs new technology, as well as the scalability afforded through outsourcing," said David Burnham, Vice President of Outsourcing, Financial Models Company Inc. "FMCSuite is able to provide the firm a fully automated and outsourced back-office, with front-office tools for modeling and portfolio performance."
Security models have been set up, and the firmâs client accounts are currently running on FMCSuite. Rudderham Norwood Ellison will utilise the security models functionality across all its client portfolios for trading and account re-balancing. The firm also intends to leverage FMCSuite to ensure that its portfolio returns are industry compliant, as well as to generate performance analysis and reporting.
FMCSuite brings together FMCâs best-of-breed products and services as integrated applications with on-demand Web access and "out-of-the-box" STP. It offers support and capability for a single data base and user interface, scalability and integration with a firmâs existing infrastructure and applications.