Raymond James Chooses CheckFree UMA Solution for its Models-Only Program

16 January 2009

CheckFree, now part of Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry, and the leading platform provider for Separately Managed Accounts (SMAs) and Unified Managed Accounts (UMAs), today announced that Raymond James Financial, Inc. (NYSE:RJF) has selected the CheckFree UMA solution for its models-only program, deepening an extensive client relationship that began in 2004. As part of its models-only program, which is scheduled to launch during the first quarter of 2009, CheckFree will provide Raymond James with its CheckFree Model Management Solution (MMS) to serve as a communications portal for model updates and further streamline the UMA program.

“We are pleased that we continue to find ways to leverage our existing relationship with CheckFree and know they offer a robust product,” said Chris Tehan, vice president of Consulting Services at Raymond James. “The quality and functionality offered by CheckFree’s UMA solution gave us the confidence to provide overlay management in-house, which has provided us with significant cost savings.”

The CheckFree MMS portal is an innovative investment model management solution which can allow users to create and maintain an unlimited number of investment models and to leverage the solution’s audit and compliance capabilities. The agreement with Raymond James continues the recent trend of CheckFree sponsor clients adopting CheckFree UMA for in-house overlay management. Nearly half of CheckFree’s active overlay clients are sponsor clients, with at least six additional sponsor clients actively planning to set up new UMA models-only programs.

“There is no better validation of the value we deliver to clients than when they decide to extend their relationship with us. We look forward to continuing our work with Raymond James in anticipation of the launch of their models-only program,” said Cheryl Nash, senior vice president, CheckFree Investment Services. “As our UMA solution continues to provide top-notch, comprehensive support for this growing platform, it’s no surprise that more clients are choosing CheckFree when adopting in-house overlay management.”

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