-
Founded in 1929, Lord Abbett is one of the world's oldest money
management firms, and a Fiserv client since 2002
-
Messaging Services from Fiserv minimizes time, effort and risk in
account data entry and extraction for Lord Abbett
-
Unified Wealth Platform from Fiserv integrates front-, middle- and
back-office wealth management technology
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Fiserv,
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that Lord Abbett & Co. LLC, an
independent, privately held investment management firm, has extended its
contract for the Unified Wealth Platform for managed account portfolio
trading, accounting and model management. In addition, Lord Abbett added
Messaging Services, part of the Wealth Management Network from Fiserv,
for real-time messaging.
"We have already seen positive results in the short time that we've been
using the real-time messaging capabilities," said Joan Binstock, chief
operating officer, Lord Abbett. "The automated solution has helped
significantly reduce the time our associates spend adding new accounts,
updating existing accounts and retrieving account data, allowing us to
reallocate our resources to focus on higher priority tasks."
Messaging Services from Fiserv serves as a centralized data management
and communication portal, and will provide Lord Abbett with an efficient
and standard way to get data into and out of its Fiserv platforms while
communicating in real-time to different systems — including workflow
solutions. A client since 2002, Fiserv worked closely with Lord Abbett
in the planning and implementation of this technology.
"The renewal and expansion of our relationship with Lord Abbett is a
testament to the reliability and value of our products, and our
commitment to continually adapt our offerings to meet emerging client
needs," said Cheryl Nash, president, Investment Services, Fiserv.
"Adding Messaging Services to the already powerful tools they have in
the Unified Wealth Platform will allow Lord Abbett to be even more
efficient and better serve their customers."
Messaging Services, which is offered through the Wealth Management
Network, is designed as a real-time, single point of entry into account
data and life-cycle. Adopting the standards of the Money Management
Institute (MMI), the Wealth Management Network from Fiserv empowers
clients to handle their managed account business in a more efficient and
scalable manner. Supporting industry standards speeds the implementation
of new connections between business partners and avoids costly interface
change requests. Messaging Services currently supports approximately 20
messages from account origination to account maintenance, such as
account creation, post cash to general ledger, post positions to
account, security adds/updates, account positions retrieval and more.
The Unified Wealth Platform from Fiserv represents the integration of
its front-, middle- and back-office wealth management technology through
three main components of the platform: Financial Advice Management
(front), Portfolio Management & Trading (middle) and Performance &
Investor Reporting (back). The platform can be leveraged in total by
large enterprises — with multiple business lines, functions and users —
or configured and deployed as individual technology components for
focused business needs.
Fiserv will be showcasing its Unified Wealth Platform and Messaging
Services at the MMI 2013 Fall Solutions Conference in New York, NY on
October 15-16, 2013. For more information on either solution, please
stop by booths 101 and 103.
Additional Resources:
About Lord Abbett
Lord, Abbett & Co. LLC is an independent, privately held firm with a
singular focus on the management of money. As one of the oldest money
management firms in the United States, Lord Abbett has consistently
provided generations of clients and their financial advisors with a
quality investment experience since 1929. Lord Abbett manages
approximately $126.1 billion in assets (as of September 30, 2012) across
a full range of mutual funds, institutional and separately managed
accounts, including $1.7 billion for which Lord Abbett provides
investment models to managed account sponsors.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider
serving the financial services industry, driving innovation in payments,
processing services, risk and compliance, customer and channel
management, and business insights and optimization. For more
information, visit www.fiserv.com.
FISV-G
Media Relations:
Julie Nixon
Senior Public Relations
Manager
Fiserv, Inc.
678-375-3744
julie.nixon@fiserv.com
or
Additional
Contact:
Wade Coleman
Director, Public Relations
Fiserv,
Inc.
678-375-1210
wade.coleman@fiserv.com
Source: Fiserv, Inc.
News Provided by Acquire Media