Relationship enables RIAs to improve workflows and enhance cash management capabilities; Alliance highlights best-of-breed, vertically integrated solutions
Bedford, NH and New York, NY – May 8, 2018 – RedBlack, the independent market leader in investment management solutions for rebalancing and trading, and Silver Management Group, Inc., a leading provider of business and technology solutions for the investment services industry, today announced that they have formed an alliance to improve client workflows and streamline complex fee and billing processes.
The partnership will enable RedBlack clients to use Silver’s Fee Billing solution to generate fees using flexible fee methodologies, schedule assignments, exclusions and discounts. The solution automates manual billing processes, prevents intra-period fee leakage and provides detailed reports that explain revenue and investor demographics.
Silver clients will benefit from RedBlack’s secure and scalable trading and rebalancing capabilities for householding, cash management and tax-harvesting, while minimizing risk and driving efficiencies in their investment strategies and portfolio objectives.
“Our alliance with Silver provides advisors with a synergistic and compelling offering,” said RedBlack Chief Operating Officer John Grimaldi. “In combination, our vertically feature-rich platforms, with a planned seamless integration, will enable more streamlined and transparent operations around cash management related to fee billing processes, and robust analytics to reduce operational and investment risk.”
“Technology and innovation are playing an increasingly significant role in financial advisors’ relationships with their clients, and our alliance with RedBlack positions us to further influence that evolution,” said Blake Henry, Silver’s Managing Partner. “Through automation of complex portfolio management, our platforms offer firms the efficiencies and flexibility needed to succeed and grow.”
RedBlack’s clients will be able to take advantage of key features such as Silver’s Fee Clarity, an innovative fee explainer. Fee Clarity effectively turns the Fee Billing system inside out by illustrating each component of the fee calculation in easy to understand views so advisors and support staff can quickly address investor questions and investors can grasp the details of their fee information.
As technology increases investor demand for transparency and accountability, advisors can gain operational efficiencies and enhance their client experiences through RedBlack’s investment management lifecycle solutions that streamline pre-trade compliance, monitoring, rebalancing and trading, order management and post trade compliance.
About Silver Management Group, Inc.
Silver is a leading provider of business and technology solutions for the investment services industry. The Silver team applies decades of securities industry and software development experience, along with a passion for solving real-world problems, to deliver cost-effective brokerage operations and wealth management solutions for our clients, including Cost Basis, Portfolio Data, Fee Billing and more. Silver’s strategic partners provide complementary services, software and market data to enhance Silver solutions. Silver’s proprietary software solutions are currently used by some of the world’s most respected financial institutions to process tens of millions of investment accounts and more than $1 trillion in assets.
For more information, please call (800) 319-6865 or visit www.silvermanagement.com.
RedBlack provides investment professionals with the rebalancing, order management and trading solutions required to manage complex portfolios. At our core is a disciplined focus on client-driven design, innovative technology and agile delivery to ensure that our solutions continuously evolve to meet the demands of our clients and the industry. Intuitive software, personalized training, and dedicated support deliver an immediate return on investment. Our clients include single and multi-family offices, wealth advisors, large financial institutions, trust companies, registered investment advisors, pension funds and foundations representing more than $350 billion in assets under management.
For more information, please call (603) 232-9406 or visit www.redblacksoftware.com.