WINDSOR,
Conn., Oct. 1, 2024 /PRNewswire/ -- SS&C
Technologies Holdings, Inc. (Nasdaq: SSNC) today announced the
broad rollout of SS&C Accord, an AI-enabled service to help
wealth managers aggregate and validate their customers' alternative
investment data. Powered by proprietary technology, SS&C Accord
leverages SS&C's wealth management and alternative investment
fund administration expertise to help advisors aggregate and
process siloed data across their investors' portfolios.
SS&C Accord delivers a single source of
clean alternatives data to wealth managers.
Choreo, an independent financial planning and investment
advisory services firm, sought to consolidate its client accounts
on a single platform after acquiring the affiliated wealth
management business of BDO USA
last year. "The BDO USA
acquisition added more than $8
billion in assets under advisement to our business, much of
it in alternative investments," said Matt
Bankston, Managing Director, Platform and Innovation at
Choreo. "We needed a way to aggregate alternatives data to be able
to provide clients with a holistic view of their traditional and
private investments. SS&C Accord helped us expand our reporting
to our clients and provide them with an all-encompassing view of
their assets."
SS&C Accord is an end-to-end service managed by a dedicated
account team. Using a combination of intelligent automation and
hands-on human experts, the team:
- Leverages digital workers for monitoring and retrieval of end
clients' alternative investments relevant correspondence
- Uses natural language processing and large language models to
extract relevant data points for further processing
- Reviews document aggregation and data extractions for
completeness and accuracy
- Processes data to downstream systems for seamless
reporting.
Wealth managers, Registered Investment Advisors, pension funds,
endowments and family offices can view their clients'
alternative investments data on a comprehensive control panel. The
data is systematically integrated across the entire SS&C
ecosystem, including the SS&C Black Diamond Wealth
Platform. This service also delivers the reviewed data to
third-party reporting systems.
"Alternative investment data collection and reconciliation is a
major pain point due to a lack of consistent reporting standards.
Wealth managers often find it challenging and costly to manage the
operational aspects of collecting, processing and integrating
alternative investment data into their reporting systems," said
Steve Leivent, Co-Head of SS&C
Wealth & Investment Technologies. "SS&C Accord aims to take
over this process as an extension of their team, delivering timely
analytics needed for advisors to provide data-driven holistic
portfolio decisions."
"As a leader in alternatives fund administration, SS&C has
more than 35 years of experience finding, collecting, reconciling
and making sense of critical investment data," said Bhagesh Malde, Global Head of SS&C GlobeOp.
"With a combination of intelligent automation, proprietary
technology and deep alternatives expertise, SS&C Accord
delivers a single source of clean alternatives data. By outsourcing
alternatives data aggregation to SS&C, wealth managers can
eliminate the need for multiple systems and resources, quickly
scale their growing alternatives business, and focus on delivering
results."
About SS&C Technologies
SS&C is a global
provider of services and software for the financial services and
healthcare industries. Founded in 1986, SS&C is headquartered
in Windsor, Connecticut, and has
offices around the world. Some 20,000 financial services and
healthcare organizations, from the world's largest companies to
small and mid-market firms, rely on SS&C for expertise, scale,
and technology.
Additional information about SS&C (Nasdaq: SSNC) is
available at www.ssctech.com. Follow SS&C on Twitter, Linkedin
and Facebook.
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SOURCE SS&C