The funds transfer service provider CashEdge Inc. has announced that it signed up 50 wealth management clients for its aggregation service last year.
The New York company reported the milestone Tuesday for its AllData service, which permits financial advisers to view their clients' account data at more than 10,000 financial institutions and then to port the information into their analytical systems for processing.
Jeffrey J. Stenroos, an investment advisory representative at Geneos Wealth Management Inc. in Centennial, Colo., said that using this portfolio aggregation service to evaluate his clients' portfolios has improved business.
"We are now deriving higher revenue streams from existing and new clients in addition to reducing the costs of providing core advisory services," he said in a CashEdge press release. The service "creates a differentiator for me in the market that attracts new clients."
