As part of its commitment to implementing technology that will add value to the client experience, Pittsburgh, Pa.-based wealth management firm Fort Pitt Capital Group has chosen RedBlack’s rebalancing software. This software will allow Fort Pitt Capital to meet increasingly sophisticated requirements, such as householding, location preference sets, sleeve rebalancing, and customized views for users which include advisors, operations and trading staff.
Fort Pitt Capital will leverage RedBlack’s integration with the Orion Advisor Services platform, as well as utilize RedBlack’s partnership with FIS Global for FIX connectivity and trading to its three custodians. In addition, RedBlack is developing additional functionality for Fort Pitt Capital, including the creation of child blocks and random allocations in support of block trading.
Todd Douds, director of operations at Fort Pitt Capital Group, said: “We needed a rebalancing solution that could meet our complex requirements while making trading and client servicing seamless for all of our users throughout the firm. RedBlack is not only providing advanced rebalancing capabilities, but is able to deliver custom functionalities that are unique to our business and give us that extra competitive edge in investment strategy, service and transparency.”
John Grimaldi, chief operating officer at RedBlack Software, said: “Today’s wealth management firms need greater flexibility to meet modern client demands while increasing efficiencies. By providing different types of rebalancing methodologies, seamless trade blotter integration and customizations, we look forward to playing a key role in Fort Pitt Capital’s success.”
Founded in 1995, Fort Pitt Capital Group is an investment management firm working on behalf of individuals, corporations, business owners, charities, foundations, and retirement plan sponsors. Headquartered in Pittsburgh, Pa., the firm has additional offices in Harrisburg, Pa. and Naples, Fla. and is a member of Focus Financial Partners, an investor in independent, fiduciary wealth management firms.