ConvergEx Prime Services Launches New Tax Optimizer Solution

New York - 16 May 2013

ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that it has launched Tax Optimizer, a new tool which allows customers to take greater control over their potential tax liability. The Tax Optimizer helps customers better understand and customize their tax lot closing methods, thereby enabling them to itemize their capital gain and loss allocations in a more efficient manner.

“We maintain a constant effort to offer products that stay one step ahead of our customers’ needs,” said Douglas M. Nelson, chief executive officer of ConvergEx Prime Services. “While the 2013 tax reporting season may seem like a far off event, customers would be wise to begin planning for it now so they are fully prepared come next April.”

This new tool gives customers the ability to run what-if scenarios to see how different closing methods might affect their tax liability. A Comparative Gain Loss Report offers detailed explanations of the variances in the closing methods and lets customers choose the most efficient closing methods for their specific funds. By using these various tax accounting methods, customers have the ability to maximize their net returns by minimizing their tax liability.

ConvergEx Prime Services is an industry‐leading provider of integrated prime services to Hedge Funds, Family Offices, Mutual Funds and Registered Investment Advisors. It offers advanced technology, global execution and reporting tools provided by multiple prime custody options through Goldman Sachs Execution and Clearing, L.P., J.P. Morgan Clearing Corp and Pershing LLC. Its customers are exposed to a broad base of long‐standing customer relationships with an experienced team providing high quality service and unique advantages in the marketplace.

All customers should consult a tax professional regarding their specific tax situation. ConvergEx does not provide tax advice.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development