Fidelity Investments said Tuesday that it has enhanced WealthCentral, its custodial platform for registered investment advisers.
It is now possible to create block orders from the portfolio modeling and rebalancing tool, and the search mechanism is more effective, the company said.
These and other enhancements, including automated alerts on short-term redemption fees, are in response to client feedback, Fidelity said.
The platform was launched in December 2008 and has more than 600 clients, and that number is expected to double in the next year.
Other functions include detailed fixed-income holding reports. The platform also features Oracle-powered customer relationship management, financial planning tools, portfolio rebalancing and trading, all on a unified, open architecture workstation.
Fidelity client Rick Adkins, president and chief executive officer of Arkansas Financial Group, commented, "With single sign-on connecting you to all of WealthCentral's applications and integration allowing these systems to share information, WealthCentral has proved to be a time saver, allowing us to spend less time on maintaining our technology infrastructure and more time taking care of clients."
Capstone Financial Solutions Vice President Doug Willingham said that, because his company used to use a stand-alone contact management system, it was necessary to export data to the wealth management platform. "With the integration of the systems and tighter controls, it's giving us more accurate data," Willingham said.
