Raymond James Financial to Migrate 100,000 Accounts to CheckFree APL
26 Outubro 2004 - 11:01AM
PR Newswire (US)
Raymond James Financial to Migrate 100,000 Accounts to CheckFree
APL -- Financial Firm to Deploy CheckFree APL in its Broker-Dealer
and Money Management Businesses; Brings New Top 10 Client to
CheckFree Investment Services -- ATLANTA and JERSEY CITY, N.J.,
Oct. 26 /PRNewswire-FirstCall/ -- CheckFree Investment Services, a
division of CheckFree Corporation (NASDAQ:CKFR), today announced
that the Asset Management Services division of Raymond James
Financial has licensed CheckFree APL for use within the firm's
broker/dealer and money management businesses. A conversion
process, to begin this month, will result in approximately 100,000
portfolios migrating from the client's in-house system to
CheckFree's industry leading, separately managed accounts platform.
The deal, as measured by the number of accounts to be administered
on CheckFree APL, represents a substantial client for CheckFree
Investment Services. 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.
"Raymond James, which is known for its emphasis on personalized
service to investors, selected CheckFree APL to accelerate its
growth plans," said Alex Marasco, CheckFree Investment Services
executive vice president and general manager. "We're told they were
impressed with our continual investment and direction we're taking
with the underlying technology platform, and in workflows that keep
CheckFree APL ahead of the curve in the separately managed accounts
arena." The Asset Management Services division of Raymond James
Financial provides an operational, sales and marketing framework
for much of the firm's separately managed account fee-based
programs including outside consultant wrap, mutual fund wrap,
financial advisor discretionary and other fee-based brokerage
businesses. Through Asset Management Services, CheckFree APL will
support Raymond James Consulting Services program which introduces
model portfolios based upon risk budgeting concepts utilized by
institutional clients and consultants. The program goes beyond
manager search and selection to develop an integrated portfolio of
managed holdings, and incorporates the best tools to assist high
net worth and smaller institutional clients in managing risk and
selecting managers with identifiable skills. Raymond James has long
leveraged CheckFree's M-Search database, the leading investment
manager database and analytical software tool, and will continue
using it to perform due diligence on money manager relationships.
"From a connectivity standpoint, CheckFree APL is the system most
managers are comfortable with," said Jeff Holland, vice president
of Raymond James Consulting Services. "The interfaces will also
help our managers consolidate the number of external connections
they need to make to outside sponsor programs already on CheckFree
APL." CheckFree APL will also be utilized by the firm's
wholly-owned asset management subsidiaries: Eagle Asset Management
and Awad Asset Management. For nearly twenty-five years, Eagle
Asset Management has offered an array of high quality, disciplined
investment programs designed for the particular needs of individual
and institutional investors. Eagle's goal is to provide clients
with superior risk-adjusted returns as the cornerstone of a
successful long-term investment program. Awad Asset Management
specializes in small-cap investment management for individuals,
retirement plans, trusts, foundations, estates, corporations and
mutual funds. Both managers look to benefit from the CheckFree APL
interfaces to Raymond James and outside sponsor programs. Awad and
Eagle will also utilize CheckFree APL's trading, portfolio
management and performance measurement/reporting capabilities.
Looking ahead, the firm plans to utilize CheckFree APL's multiple
strategy portfolio (MSP) functionality as the Raymond James
Consulting Services arm creates multiple-style accounts within its
separate accounts product area. "CheckFree APL offers robust
trading tools to efficiently trade multiple strategy portfolios
across various sleeves," said Holland. Multiple Strategy Portfolios
provide for the diversified management of a single account,
encompassing the investment strategies of multiple money managers.
CheckFree APL enables the program sponsor firm to offer a wide
variety of investment strategies to their client, while seamlessly
including any combination of in-house and external managers.
CheckFree APL treats Multiple Strategy Portfolios as a single
account with sub-models, thereby averting trading and
reconciliation discrepancies. 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 80 of the top Wall Street (sponsor) firms and
125 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 Raymond
James Financial, Inc. ( http://www.raymondjames.com/ ) Raymond
James Financial (NYSE:RJF) is a Florida-based diversified holding
company providing financial services to individuals, corporations
and municipalities through its subsidiary companies. Its three
wholly owned broker/dealers, Raymond James & Associates,
Raymond James Financial Services and Raymond James Ltd. have more
than 5,200 financial advisors serving 1.3 million accounts in 2,200
locations throughout the United States, Canada and overseas. In
addition, total client assets are currently over $100 billion, of
which more than $22 billion are managed by the firm's asset
management subsidiaries, which are focused on providing high
quality asset management to its retail and institutional clients.
About Eagle Asset Management, Inc. ( http://www.eagleasset.com/ )
Eagle Asset Management has provided a diverse array of disciplined
investment programs designed to meet the unique needs of both
individual and institutional investors for more than a quarter
century. Our goal is to provide clients with superior risk-adjusted
returns as the cornerstone of a successful long-term investment
program. Our staff of more than 40 investment professionals
currently manages approximately $8.5 billion in equity and fixed
income programs. 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 1.7 million
portfolios totaling over $1 trillion 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/ ) Founded in 1981, CheckFree
Corporation (NASDAQ:CKFR) provides financial electronic commerce
services and products to organizations around the world. CheckFree
Electronic Commerce solutions enable thousands of financial
services providers and billers to offer their customers the
convenience of receiving and paying their household bills online or
in person through retail outlets. CheckFree Investment Services
provides a broad range of investment management solutions and
outsourced services to thousands of financial services
organizations, which manage more than $1 trillion in assets.
CheckFree Software develops, markets and supports software
applications that are used by financial institutions to process
more than two-thirds of the 10 billion Automated Clearing House
transactions in the United States. The division also provides
global trade processing, reconciliation, financial messaging,
compliance and electronic billing and statement software to
hundreds of organizations across the globe. 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, 2004 (filed September 3, 2004). 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 Investors, Tina Moore,
+1-678-375-1278, or , both of CheckFree Web site:
http://www.checkfreecorp.com/ http://www.raymondjames.com/
http://www.eagleasset.com/ http://www.checkfreeinvsvcs.com/
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