Data Aggregation Recognized as Must-Have for Wealth Management
Solutions
Advisors Leverage Aggregation to Increase Assets Under Management
NEW YORK, Feb. 26, 2008 (PRIME NEWSWIRE) -- CashEdge, Inc. (www.cashedge.com), the pre-eminent provider of data aggregation solutions to the wealth management industry, today announced that it was selected by more than 50 new wealth management firms during 2007. CashEdge's technology solutions include data aggregation, online account opening and funding, funds transfer, small business payments and small business invoicing applications.
"The implementation of CashEdge's aggregation services into my practice has created new efficiencies in the areas of data management and portfolio review. We are now deriving higher revenue streams from existing and new clients in addition to reducing the costs of providing core advisory services. CashEdge also creates a differentiator for me in the market that attracts new clients," said Jeffrey J. Stenroos, a CFP (r) practitioner since 1984 and an Investment Advisory Representative of Geneos Wealth Management, Inc. "CashEdge's aggregation solution is absolutely critical to the continued success of my practice," he added.
CashEdge's AllData service enables financial advisors to consolidate client account data from more than 10,000 financial institutions, including brokerages, custodians, banks, and insurers. The data provided by CashEdge includes standard identifiers for both positions and transactions data, enabling the data to be seamlessly ported into the analytical tools used by financial planners and investment advisors, including asset allocation models and portfolio reporting systems.
"The industry is witnessing resurgence in the demand for reliable data aggregation applications among wealth management firms," said Sanjeev Dheer, CEO of CashEdge. "More than ever before, financial advisors are utilizing data aggregation to provide better client advice and increase assets under management. By providing automated access to a client's holistic financial picture, CashEdge's data aggregation technology has become an essential tool for these advisors."
About CashEdge
CashEdge(r) provides innovative, online financial applications to banks, credit unions and wealth management firms. CashEdge's solutions include end-to-end online account opening and funding, funds transfer, small business payments and invoicing, 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.
CashEdge has been ranked by Inc. Magazine as one of the 500 fastest growing private companies in the United States for two years in a row. In 2007 it was also recognized by the 2007 Deloitte Technology Fast 500 and Fast 50 as one of the nation's 500 fastest growing private companies and one of the 50 fastest growing companies in the New York area, respectively. The company currently serves hundreds of leading financial institutions including four of the top five banks, 23 of the top 100 banks, and 20 of the top 100 credit unions. CashEdge has offices in New York, Silicon Valley and India. For more information, please visit www.cashedge.com.
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Please note:
The above contains statements that are based on subjective views, opinions or beliefs of the management. The data provided herein is based solely on CashEdge's solutions and does not relate to any specific financial institution or client or the industry.