The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Primevest Adopts Broadridge’s Portfolio Accounting and Performance Reporting Service

Broadridge Financial Solutions today announced that Primevest Financial Services, a leader among broker-dealers dedicated to serving financial institutions, has implemented Broadridge’s Aspire Portfolio Accounting and Performance Reporting service. Primevest can now use the integrated service both to comply with new IRS requirements and to provide sophisticated performance reporting to their more than 400,000 accounts.

“As part of our commitment to deliver unparalleled support for financial institutions, the incorporation of the Aspire Portfolio Accounting capability was the next logical step in the continued evolution of our technology,” said Catherine Bonneau, president and CEO of Primevest. “Ahead of the IRS deadline, this enhancement makes it easier for our clients to meet all the IRS requirements and have the added benefit of flexible performance reporting. By working closely with Broadridge for these critical functions, we are much more confident in our ability to stay ahead, despite the rapidly changing landscape.”

“Primevest is known as an innovator and a broker-dealer industry leader,” said Rob Enz, general manager, Securities Industry Software, Securities Processing Solutions – US, Broadridge. “We’re very proud to have them as the first client to take advantage of our new combined accounting and performance service.”

“Our Aspire Portfolio Accounting and Performance Reporting engine provides tremendous value for firms that take advantage of the combined offering. With a single solution, a single database, and a single reconciliation operation, our clients can achieve both Troubled Asset Relief Program (TARP)- compliant cost basis reporting and Global Investment Performance Standards (GIPS)-compliant performance reporting,” Enz added.

The Aspire service delivers sophisticated performance reporting, advanced portfolio analytics, and lot-level cost basis tracking and reporting in a single package. Broadridge’s Aspire Portfolio Accounting and Performance Reporting service offers tremendous value to broker-dealers upgrading their cost basis tracking to comply with new regulations, and who would like to augment and differentiate their services in the process.

Broadridge’s Aspire Portfolio Accounting and Performance Reporting service can use any books-and-records back-office solution. It supports multiple currencies and subaccounts, and it provides dramatically higher capacity than ever before available—at substantially lower cost-per-account.

Related content

WEBINAR

Upcoming Webinar: FRTB: What still needs to be done before the global deadline of January 2023?

Date: 8 March 2022 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes While implementation of Fundamental Review of the Trading Book (FRTB) regulation has been delayed twice for reasons first of complexity and second of the coronavirus pandemic, the final deadline of January 1, 2023 is less than a year away....

BLOG

RIMES plans to pair cloud native data management platform with managed data services post acquisition of Matrix IDM

RIMES has stated its intention to acquire Matrix IDM, a Sydney, Australia-based provider of a cloud native investment data management platform. The combination of RIMES’ managed data services and the Matrix IDM platform will help asset owners, institutional investors and asset managers solve increasingly complex data problems and make better informed investment decisions. The deal...

EVENT

TradingTech Summit Virtual (Redirected)

Trading Tech Summit (TTS) Virtual will look at how trading technology operations can capitalise on recent disruption and leverage technology to find efficiencies in the new normal environment. The crisis has highlighted that the future is digital and cloud based, and the ability to innovate faster and at scale has become critical. As we move into recovery and ‘business as usual’, what changes and technology innovations should the industry adopt to simplify operations and to support speed, agility and flexibility in trading operations.

GUIDE

A-Team Group’s Valuations Vendor Directory 2009

An indispensable guide to valuations professionals seeking providers of services in the asset valuations market. A-Team Group’s latest release in its series of directories – available for FREE download – focuses on vendors of valuations data, models and analytics. But this is not just another list of firms with their telephone numbers – you can get that...