Prudential Investments Managed Accounts Consulting Group Licenses M-Pact from CheckFree Investment Services
January 06 2004 - 8:30AM
PR Newswire (US)
Prudential Investments Managed Accounts Consulting Group Licenses
M-Pact from CheckFree Investment Services ATLANTA and JERSEY CITY,
N.J., Jan. 6 /PRNewswire-FirstCall/ -- CheckFree Investment
Services, a division of CheckFree Corporation , today announced
that the Managed Accounts Consulting Group of Prudential
Investments recently licensed CheckFree M-Pact, a Web-based
application for automating and streamlining the separately managed
accounts sales, advisory and proposal process. CheckFree Investment
Services is the leading provider of outsourced trading, portfolio
management, accounting, reporting services and data to
broker/dealers, investment consultants and money managers in
separately managed accounts. M-Pact incorporates comprehensive
intelligence on separate account managers with flexible data sets
on multiple products and strategies, and provides tools for client
profiling, asset allocation modeling, portfolio blending and
proposal creation. CheckFree clients can customize and private
label the application to support a firm's own separately managed
account platform. "Prudential's customized version of CheckFree
M-Pact, which the Managed Accounts Consulting Group has rolled-out
to selected distribution channels, is another illustration of how
M-Pact's standardized processes and flexible workflows assist
financial firms in creating their own competitively unique
solutions," said Alex Marasco, CheckFree Investment Services
executive vice president and general manager. "CheckFree M-Pact
also empowers financial advisors with front- and middle-office
tools to leverage and drive asset growth." The Managed Accounts
Consulting Group, a leading developer of managed accounts
platforms, jointly developed with CheckFree the customized version
of M-Pact now integrated within the Prudential Managed Assets
Advisory Platform (MAAP), a suite of tools and services for
third-party financial representatives including national
broker/dealers, insurance companies, regional broker/dealers, bank
and trust companies and independent broker/dealers. M-Pact features
give select financial professionals logging into MAAP the ability
to generate investment proposals, research and analyze separate
account strategies, mutual funds and exchange-traded funds. A
single, integrated Web-based desktop application that can be
customized and private-labeled, Prudential's MAAP makes it easier
for financial professionals to build and manage a book of business.
MAAP supports a full strength consultative process through a menu
of services. Financial professionals can create client profiles
with on-line questionnaires, determine asset allocations, research
and recommend investment options, produce customized proposals,
monitor performance and generate client approved performance
reports. Integrating M-Pact functionality into MAAP supports the
asset allocation and consulting process by enabling financial
advisors to conduct multiple product analysis, compare blends and
combine products. Earlier this year, CheckFree announced that that
OFI Private Investments, a subsidiary of OppenheimerFunds, Inc.
(OFI), licensed a customized version of M-Pact. The OFI Private
Investments sales force and marketing group is leveraging M-Pact's
vast separately managed accounts manager data to create proposals
for advisor clients. Charles Schwab & Co. Inc. also licensed
and customized M-Pact, and introduced it under the private label,
Money Manager Analysis and Proposal System (MMAPS) to independent
investment advisors with Schwab Institutional. Advisor-Link, a
private label, customized Web-based version of M-Search with select
M-Pact features, was deployed last year by A.G. Edwards to enable
its financial consultants to build tailored investment strategies
for clients. CheckFree APL serves as the leading separately managed
accounts platform, providing remote processing services to sponsor
firms, money managers and financial advisors for the automation of
investment management, trading, portfolio performance and investor
reporting. CheckFree APL's open platform enables approximately 39
of the top 50 Wall Street (sponsor) firms and 36 of the top 40
managers to interface with each other, and operate in a straight-
through processing environment. Institutional money managers also
use CheckFree APL to enter and maintain account data, manage trades
and measure portfolio performance. About Prudential (
http://www.prudential.com/ ) Prudential Financial companies, with
approximately $421 billion in total assets under management as of
September 30, 2003, serve individual and institutional customers
worldwide and include The Prudential Insurance Company of America,
one of the largest life insurance companies in the U.S. These
companies offer a variety of products and services, including life
insurance, property and casualty insurance, mutual funds,
annuities, pension and retirement related services and
administration, asset management, securities brokerage, banking and
trust services, real estate brokerage franchises and relocation
services. About CheckFree Investment Services (
http://www.checkfreeinvsvcs.com/ ) Headquartered in Jersey City
(NJ), CheckFree Investment Services provides a broad range of
investment management services to thousands of financial
institutions. The company's staff of 350 professionals operates
from six offices nationwide, including Durham NC, location of its
M-Solutions software applications: M-Search, the leading separate
accounts manager database and analytical tool; M-Pact, a Web-based,
enterprise solution for manager analysis, reporting and proposal
generation; and M-Watch, a performance reporting and measurement
system. Clients of CheckFree Investment Services manage 1.3 million
portfolios totaling $731 billion in assets. The CheckFree APL
platform is leveraged by asset management, broker/dealer firms and
investment advisors on a remote processing basis. About CheckFree (
http://www.checkfreecorp.com/ ) CheckFree (NASDAQ:CKFR) is the
leading provider of financial electronic commerce services and
products. Founded in 1981 and celebrating its 23rd year in
e-commerce, CheckFree is comprised of three divisions: Electronic
Commerce, Software, and Investment Services. CheckFree launched the
first fully integrated electronic billing and payment solution in
1997. In the quarter ended September 30, 2003, more than 11 million
consumers initiated online payments through services offered by
CheckFree's Electronic Commerce division. Electronic billing and
payment is available through more than a thousand financial
services organizations, including banks, brokerage firms, Internet
portals and personal financial management (PFM) software. At these
sites, consumers are able to electronically receive and pay about
300 bills, representing the bills most common to a U.S. household.
CheckFree delivers nearly 15 million e-bills each quarter.
CheckFree Investment Services provides a broad range of investment
management services to thousands of financial institutions
nationwide. The division's clients manage more than 1.3 million
portfolios totaling more than $700 billion in assets. CheckFree's
Software division provides solutions through three operating units:
CheckFree ACH Solutions, CheckFree Financial and Compliance
Solutions (CFACS), and CheckFree i-Solutions. CheckFree ACH
Solutions provides software and services that are used to process
more than two-thirds of the nation's nine billion Automated
Clearing House payments, while CFACS provides reconciliation,
financial messaging, workflow and compliance software and services
to more than 600 organizations in banking, brokerage, investment
management, insurance and credit card industries, among others.
CheckFree i- Solutions is the leading provider of e-billing and
e-statement software and services for both business-to-consumer and
business-to-business applications, with more billers as clients
than all of its competitors have combined. Certain of CheckFree's
statements in this press release are not purely historical, and as
such are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These include
statements regarding management's intentions, plans, beliefs,
expectations or projections of the future. Forward-looking
statements involve risks and uncertainties, including without
limitation, the various risks inherent in CheckFree's business, and
other risks and uncertainties detailed from time to time in
CheckFree's periodic reports filed with the Securities and Exchange
Commission, including CheckFree's Annual Report on Form 10-K for
the year ended June 30, 2003 (filed September 15, 2003), and
Quarterly Report on Form 10-Q for the quarter ended September 30,
2003 (filed November 13, 2003). One or more of these factors have
affected, and could in the future affect CheckFree's business and
financial results in future periods, and could cause actual results
to differ materially from plans and projections. There can be no
assurance that the forward-looking statements made in this press
release will prove to be accurate, and issuance of such
forward-looking statements should not be regarded as a
representation by CheckFree, or any other person, that the
objectives and plans of CheckFree will be achieved. All forward-
looking statements made in this press release are based on
information presently available to management, and CheckFree
assumes no obligation to update any forward-looking statements.
DATASOURCE: CheckFree Corporation CONTACT: Media relations, Judy
DeRango Wicks, +1-678-375-1595, or , or Investor relations, Tina
Moore, +1-678-375-1278, or , both of CheckFree Corporation Web
site: http://www.checkfreecorp.com/ Company News On-Call:
http://www.prnewswire.com/comp/821650.html
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