According to the announcement, the enhanced asset allocation function enables portfolio managers and financial advisers to quickly allocate clients’ assets among third-party investment managers, ETFs, mutual funds and a financial institution’s internal investment strategies. Nick Mariniello, executive managing director at Concord, said in the announcement the new tool could also add value to an adviser’s sales process as investors appreciate the benefits of an open architecture platform.
“For portfolio managers and advisers who prepare detailed client proposals on a large scale, this new tool automates the arduous exercise of apportioning assets among a wide range of investment alternatives,” said Lee Argush, Concord cofounder and chief executive officer, in the announcement.Concord offers financial organizations, including trust companies, banks, broker/dealers, clearing firms, insurance companies and independent advisory firms a customizable wealth management platform.
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