Charles River Forms Wealth Client Advisory Board as it Marks 10 Years as Wealth Platform Provider
July 17 2019 - 8:00AM
Business Wire
Charles River Development, a State Street Company, today
announced the formation of a Client Advisory Board focused on
wealth management. Members of the Board will serve to provide
expert insight and advice on the development and enhancement of the
Charles River Wealth Management Solution.
The founding members (partial list) of the Charles River
Development Client Advisory Board include:
- Charles Schwab Investment Advisory, Inc.
- Commerce Trust Company
- Fiduciary Trust Company International
- Glenmede
- Merrill Lynch Wealth Management
The launch of the newly formed Client Advisory Board marks
Charles River’s 10th anniversary as a leading wealth management
platform provider. Since 2009, Charles River’s Wealth Management
Solution has offered wealth managers streamlined capabilities that
support discretionary and non-discretionary products, enhanced
mobility across asset classes and has helped attract and retain
financial advisors. Today, the platform supports over 30 wealth
clients and manages approximately $2.5 trillion in assets for some
of the world’s most prominent advisory firms, large sponsors, and
private banks. Furthermore, the solution has been the recipient of
prestigious industry recognition through accolades such as 2018
Fintech Breakthrough Award for Best Wealth Management Platform, the
2018 WealthBriefing Asia Award, and the 2017 and 2018
WealthBriefing Swiss Awards.
“Charles River is a valuable strategic partner whose wealth
management platform has seamlessly scaled alongside our business,
helping to improve the client experience,” said Peter Malafronte,
Head of Financial Advisor Discretionary Programs for Merrill Lynch
Wealth Management and one of the founding members of the Client
Advisory Board.
“The last decade has marked a significant shift in the needs of
our wealth clients and we have worked hard to ensure our platform
can solve for these current challenges,” said John Plansky, chief
executive officer of Charles River Development. “Firms are looking
for scalable solutions that can acquire and manage extremely high
volumes of client relationships and accounts, comply with fiduciary
and regulatory obligations and consolidate wealth and institutional
business lines on a single technology platform. The newly formed
Wealth Management Client Advisory Board will serve as a critical
resource to allow Charles River to continue shaping our solution
and product strategy.”
About Charles River, a State Street Company
Charles River Development, a State Street Company, enables sound
and efficient investing across all asset classes. Investment firms
in more than 40 countries use Charles River IMS to manage more than
US$25 Trillion in assets in the institutional investment, wealth
management and hedge fund industries. Our Software as a
Service-based solution (SaaS) is designed to automate and simplify
investment management on a single platform – from portfolio
management and risk analytics through trading and post-trade
settlement, with integrated compliance and managed data throughout.
Headquartered in Burlington, Massachusetts, we support clients
globally with more than 925 employees in 11 regional offices. For
more information, please visit www.crd.com.
*As of April 2019
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors,
including investment servicing, investment management and
investment research and trading. With $32.6 trillion in assets
under custody and administration and $2.8 trillion* in assets under
management as of March 31, 2019, State Street operates globally in
more than 100 geographic markets and employs approximately 40,000
worldwide. For more information, visit State Street's website at
www.statestreet.com.
*Assets under management include the assets of the SPDR® Gold
ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $33
billion as of March 31, 2019), for which State Street Global
Advisors Funds Distributors, LLC (SSGA FD) serves as marketing
agent; SSGA FD and State Street Global Advisors are affiliated.
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.
© 2019 State Street Corporation - All Rights Reserved
2568904.1.1.AM.
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version on businesswire.com: https://www.businesswire.com/news/home/20190717005107/en/
Media Contact: Mary Masi-Phelps, Charles River
Development, +1 781-425-6155, marymasiphelps@crd.com
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