NEW YORK, Jan. 23, 2007 (PRIME NEWSWIRE) -- CashEdge, the pre-eminent provider of online data collection and financial applications, and AdviceAmerica, Inc. (www.adviceamerica.com), a leading provider of financial planning software, today announced the integration of CashEdge's AllData(tm) data consolidation solution into AdviceAmerica's Financial Planning Application Suite. The announcement was made on the heels of CashEdge's recent launch of its enhanced AllData solution. The AdviceAmerica Financial Planning Application Suite, powered by CashEdge, will be made available to all of Advice America's Institutional and Independent clients.
The combined solution empowers financial advisors to permission direct data feeds from leading custodians and to consolidate client data from multiple advisor portals by simply and securely registering their own advisor login credentials to access the advisor portals, in addition to traditional aggregation utilizing client credentials. AllData's focus on advisor-level data eliminates an adoption barrier that exists in applications that focus on aggregating data client-by-client.
"We selected CashEdge to power this critical service in response to a growing demand from advisors for more actionable access to their clients' assets for planning and portfolio management," stated Purna Pareek, Chairman and CEO of AdviceAmerica. "This enhanced accessibility of client data empowers AdviceAmerica to elevate the advisor-client relationship by enabling advisors to collaborate more closely with clients, provide more thorough and personalized advice, and build stronger relationships."
CashEdge's AllData Data Consolidation solution consolidates client account data from a wide variety of sources including direct feeds from custodians as well as both the client and advisor portals of brokerages, custodians, mutual fund providers, and insurance companies. Unlike other solutions that aggregate data end-user by end-user, and require a complex set-up process for each client, AllData provides a simplified set-up and maintenance process. AllData's focus on aggregating and normalizing the data, including assigning industry standard asset identifiers to all positions and transactions, creates a portable "client positions database" with the accuracy and detail to fuel the sophisticated wealth management and financial planning applications that sit on advisors' desktops.
"CashEdge's AllData technology gives advisors complete, unfettered access to client data without repeatedly going through a burdensome client request process," commented Sanjeev Dheer, CEO of CashEdge. "The outcome is improved productivity, superior advisory service, and increased customer loyalty."
About CashEdge
CashEdge(r) provides innovative, online financial applications for banks, credit unions and wealth management firms. CashEdge's solutions include end-to-end online account opening and funding, funds transfer and data consolidation. These proven solutions are flexible, scalable and supported by extensive risk management capabilities. Working with CashEdge, financial institutions are able to create compelling online offerings that attract customers, generate revenues and reduce costs.
Recognized by Inc. Magazine as one of the 500 fastest growing private companies in the United States, CashEdge currently serves more than 500 leading financial institutions. These include Bank of America, Citibank, and Royal Bank of Canada. CashEdge has offices in New York and Silicon Valley. For more information, please visit www.cashedge.com.
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About AdviceAmerica
AdviceAmerica is the leading provider of innovative financial planning solutions that are powerful, yet easy-to-use, enabling financial services firms to achieve high advisor adoption rates. Consistently validated by market research firms, the company's flagship product, AdvisorVision, provides an intuitive user interface, dynamic data connectivity, and an automated advice engine designed to increase advisor productivity. Leading financial institutions rely on AdviceAmerica to help advisors strengthen client relationships and grow revenues. Based in Silicon Valley, the company was founded in 1999 by a team of seasoned financial services professionals. For more information please visit: www.adviceamerica.com or call (510) 824-3777.