Financial Software offers communication hub for investment managers.
Press Release Summary:
Accessed through Model Management SolutionSM, Model Information ExchangeSM lets investment managers and sponsors share model information from multiple programs. Sponsors and overlay managers benefit from receiving model information in standardized, auditable format. Sharing of models through single portal also automates error-prone process in which information is communicated by phone, email, or spreadsheet and entered manually into modeling systems.
Original Press Release:
Investment Services from Fiserv Introduces the Industry's First Communication Hub for Unified Managed Accounts and Models- Only Programs
Model Information ExchangeSM from Fiserv enables investment managers and sponsors to share model information from multiple programs in a standardized format
Brookfield, Wis., September 15, 2009 - Fiserv, Inc. (NASDAQ: FISV), the leading global
provider of financial services technology solutions, today announced the availability of Model Information Exchange SM, the industry's first model communication infrastructure that will enable investment managers and sponsors to send and receive models and model changes in a standardized format.
As the industry moves towards models-only management, which is intended to simplify and
standardize the ability to realize tax benefits and asset allocation for the end investor, a systematic approach to delivering models is needed to drive efficiencies and enable advisors to gather more assets under management. Investment Services from Fiserv recognizes that Unified Managed Accounts (UMA) and Models-Only programs are growing market segments in the managed solutions industry. The need for an efficient means to send models across sponsor programs, track changes and track model rotation is critical as these programs gain momentum.
Model Information Exchange from Fiserv meets an important need in the managed
solutions industry for greater efficiency and uniform communication protocols. The new
exchange solution allows investment managers to create models and communicate model
updates to multiple sponsors. Sponsors and overlay managers benefit from receiving model information in a standard, auditable format. The sharing of models through a single portal also automates the current error-prone process in which information is communicated by phone, email or spreadsheet and then entered manually into modeling systems.
In a recent analyst report, Cerulli reported that as of the second quarter of 2009 84 percent of UMA asset managers are submitting models while only 16 percent are not. This is a significant shift compared to the 50 percent of UMA asset managers not submitting models in 2006i.
"With the current growth in UMA and models-only programs, there is a need for a single
portal where investment managers, sponsors and overlay managers can communicate
model information more easily and efficiently," said Cheryl Nash, senior vice president of Strategic Marketing and Business Development, Investment Services from Fiserv. "By providing models in a single standard environment, managers, sponsors and other investment professionals will be able to share and use models more effectively. Model Information Exchange from Fiserv is also positioned to support model standards currently being developed by the Money Management Institute's subcommittee for model
standards."
Model Information Exchange can be accessed through the Model Management SolutionSM
from Fiserv, which allows managers to create custom model portfolios using a highly
intuitive user interface or automatically upload benchmark data or model portfolios from diverse sources. The Model Management Solution is fully integrated with the Fiserv
Separately Managed Account (SMA) and UMA trading platforms and is linked to the Fiserv
network of over 2,500 interfaces, connecting Managers and Sponsors.
"Fiserv is committed to advancing UMA and models-only solutions by listening to and
addressing the needs of our clients and the industry overall," said Mike Gianoni, president, Investment Services from Fiserv. "With this new solution, Fiserv can help managers, sponsors and other investment professionals streamline, enhance and grow their programs."
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrates its 25th year in 2009. For more information, visit www.fiserv.com.
i Cerulli Associates (2009), "The Cerulli Edge Managed Accounts Edition, Third Quarter 2009"
Additional Fiserv Contact:
Lori Stafford-Thomas
Assistant Vice President
Corporate Communications
Fiserv, Inc.
262-879-5130
lori.stafford@fiserv.com
