J. P. Morgan partners with Redi2 Technologies to launch sponsor billing reconciliation solution for separately managed accounts (SMAs)

20 January 2009

Redi2 Technologies, a leading provider of sophisticated yet simple-to-use fee billing solutions for the global financial services industry, today announced J.P. Morgan Managed Accounts Services (MAS) has launched an SMA billing reconciliation system with Redi2 Revenue Manager™ as its cornerstone. The platform provides J.P. Morgan’s asset manager clients with a faster and more accurate way to collect fees they are owed. J.P. Morgan developed the solution in partnership with Redi2 and Vestmark Inc., an enterprise software company.

“The platform, offered by J.P. Morgan MAS, calculates billable events that occur in the SMA process for each manager’s sponsor relationship,” says Redi2 President and COO Fermin Garcia. “Using Revenue Manager as the billing platform for asset managers not only lets J.P. Morgan MAS offer significant value to their asset manager clients, but provides their operational staff with the custom operational reports they need to support their world-class client service levels.”

Redi2 Revenue Manager automates account setup and termination, invoice generation, fee/payment reconciliation as well as adjustments and reversals. The software allows J.P. Morgan MAS to calculate complex fees on behalf of their clients based on assets, transactions or performance. Fees may be summarized at various levels, such as household, program, advisor, manager or sponsor. Additionally, custom invoicing to sponsors, account holders, custodians and other billing recipients have been incorporated into the asset manager offering—all without custom coding.

“In today’s competitive and volatile environment, asset managers are looking closely at the bottom line and new ways to bring in more revenue,” said Scot Knight, executive director and product manager of J.P. Morgan MAS. “This solution provides a detailed, accurate and efficient way to ensure that asset managers are collecting every penny that is due to them.”

J.P. Morgan is a leading provider of outsourcing solutions for SMA managers and sponsors. The firm's full-service customized platform provides complete coverage including account workflow, reconciliation, trade support, billing and performance reporting. Redi2 and J.P. Morgan MAS signed an agreement to develop the joint solution in August 2008.

“Our sophisticated yet flexible software gives J.P. Morgan the competitive advantage of being able to tailor fee billing calculations by asset manager quickly and accurately,” adds Redi2’s Garcia. “Their choice of Redi2 Revenue Manager validates our leadership in delivering award-winning fee billing solutions to the largest and most operationally complex global institutions.”

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