U.S. and World Newswire
:
Banking and Finance
News
Fetter Logic and Advisors Clearing Network Announce Agreement - Combined Solution Fills Several Gaps
Published: Tue, 17 Oct 2006, 22:00:00 EDT
DENVER, Colo. - Oct. 17 (SEND2PRESS NEWSWIRE) -- Fetter Logic, Inc., the premier full service provider of advanced data and information management solutions to the financial services industry announced today that it has entered into an agreement to assume all aspects of sales and operations for Advisors Clearing Network, Inc. (ACN).
ACN is a dedicated mutual fund services firm which provides state-of-the-art technology and the operational support necessary to efficiently process and monitor mutual fund business. ACN's systems locate and network direct mutual fund positions, collect and pay 12b-1 fees and commissions, offer monitoring and surveillance of all direct fund positions as well as extensive ad-hoc compliance and commission reporting.
By integrating ACN's mutual fund processing capabilities, Fetter Logic has strategically reinforced its product offering by adding "Books and Records Quality" data on direct mutual funds to its existing suite of data aggregation, commission processing, compliance, ad-hoc query, management reporting, and broker workstation tools.
"Our ability to add the industry's only source of comprehensive direct mutual fund data to our data warehousing solutions will truly set us apart, and create a unique offering in the marketplace. Firms can pick and choose now from an extensive menu of products immediately deliverable, and also from those in our pipeline," said David Fetter, CEO of Fetter Logic.
ACN's suite of solutions, being re-branded "FundLogic," is immediately available through Fetter Logic including the tools necessary to adhere to regulatory requirements for compliance with SEC Rule 17a-3(a)(17), transaction and account surveillance, breakpoint calculations, compliance reporting and suitability review.
"After my experiences working with SIA members on the industry's response to mutual fund breakpoints and rule 17a-3(a) (17) in regard to direct to fund accounts, it is clear that accurate, reliable, and consistent data is of vital importance in complying with regulatory issues," said Rob Gannon, SIA Vice President and Director, Management Services.
"Adding mutual fund processing capability to Fetter Logic will dramatically enhance the utility of both ACN and Fetter Logic's solutions, creating a new and unique offering in the marketplace," said Roger Loar, President of Advisors Clearing Network.
ACN will remain the NSCC member and broker/dealer to provide servicing functions to the FundLogic solution set. This allows FundLogic maximum flexibility in servicing all types of broker/dealers.
Vertical Management Systems, Inc. (VMS), an investor in ACN, will remain an integral part of the FundLogic application development and operations team.
NEWS SOURCE: Fetter Logic, Inc.
Send2Press® is the originating wire service for this story.
» Read More Banking and Finance News
» Other Send2Press Industry News by Category
More Information and Media Contact:
For questions about this story, contact the news source:
»
Click Here for Contact Information
THE CONTENT OF THE ABOVE NEWS STORY WAS PROVIDED BY THE NEWS SOURCE WHO IS SOLELY RESPONSIBLE FOR ITS ACCURACY. FOR QUESTIONS ABOUT THIS STORY CONTACT THE NEWS SOURCE AND NOT SEND2PRESS (THIS WEBSITE).
O T H E R R E S O U R C E S
T E R M S O F U S E
This article is Copr. © 1983-2008 Neotrope / Send2Press. Reproduction of this news article version requires written authorization. You may freely link to this article. Journalists (see the section "Journalist Resources" above) may use orig. news release as the basis for an article.
News Websites may republish the "news release" text version linked to above under "Journalist Resources" except must retain "Send2Press Newswire" as the source of this news if used verbatim. Websites which offer/sell PR or newswire services, or web promotion services, or "splogs" may NOT reprint our content in ANY form. Send2Press Newswire is a service mark of, and "Send2Press" is a registered trademark of, Neotrope. Creative Commons - Some Rights Reserved (3.0) - Attribution Required.
DISCLAIMER: the above article is believed accurate but not guaranteed, and is based on business news supplied by the source (Fetter Logic, Inc.). The noted source is solely responsible for its accuracy. Financial/Stock news may contain forward looking statements. Neotrope/Send2Press makes no claims of accuracy or suitability for any purpose. Any opinions expressed by representatives of company(s) mentioned in news and profiles are solely those of the person indicated, and do not reflect any opinion or policy of Neotrope or Send2Press. Your use of any information contained herein is done solely at your own risk, and you are fully responsible for using any information herein, or on sites mentioned or linked to in the article. All trademarks acknowledged.
REFERENCES: Fetter Logic and Advisors Clearing Network Announce Agreement - Combined Solution Fills Several Gaps, Fetter Logic, Inc., Advisors Clearing Network, Inc., locate and network direct mutual fund positions, collect and pay 12b-1 fees and commissions, offer monitoring and surveillance of all direct fund positions as well as extensive ad-hoc compliance and commission reporting, Strategic Advantage, FundLogic, Oct 17, 2006.
VIEWED BY MEDIA (and public): 2734 times (4 today, 4 this week,
20 this month, 646 this year)
|
|
|
Subscribe in a reader
PLAIN TEXT FORMAT (UTF-8)
PDF FORMAT
