In the latest adoption milestone report, First Rate’s CORE solution has signed the 250^th client specific to the bank and trust space in the wealth management industry. This adoption signifies the continued growth and evolution of First Rate’s solution and service offerings focusing on investment performance and client reporting and enhanced emphasis in oversight and compliance.

Arlington, TX – August 23, 2017 – First Rate, a leading provider of wealth management solutions, today announced the 250th bank and trust client based in the United States adopting the First Rate CORE platform. This growth includes signing 28 new clients in the bank and trust space alone over the past year.  Marking this achievement, First Rate has released significant new enhancements to the award-winning First Rate ExecView platform. ExecView is helping to drive this growth through automated oversight of client outcomes that support increased regulation from government regulators including the SEC and OCC.

“First Rate is proud of our consistent and accelerating growth in the bank & trust segment, which has been fueled by innovative cloud-based solutions such as open APIs for integrations and a truly customizable platform,” said First Rate President Craig Wietz.  “While competitors come and go fueled by private equity and venture capital funding, First Rate is proud to be employee-owned with a single-minded focus on our customers for the past 25 years and into the future.”

The latest release includes the full integration of the ExecView oversight and compliance solution into the First Rate CORE platform leveraged by back, middle, and front office users.  This latest release included the following highlights:

• A memo feature that tracks outliers identified by ExecView, including a due date, audit and reporting functionality that provides an automated and archiving solution to demonstrate fiduciary oversight to the OCC and SEC.
• Investment Policy asset allocation tracking to identify violations quickly and easily.
• Enhanced tools to research and investigate sources of returns for any portfolio, at any segment or asset level through daily drill downs in Analyst.

“In a recent survey of Wealth Management executives, two out of three indicated they intend to increase spending on reporting, and three out of four consider it a high-value technology,” said Darrin Courtney, executive advisor at CEB, now Gartner. “The number one driver of that value is the ability to improve service and experience. Other reporting value drivers for wealth firms include risk reduction, regulatory compliance, and process improvement. As firms prioritize regulatory reporting libraries and automated compliance solutions, they will be best prepared for additional regulatory scrutiny in the future.”

First Rate continues to invest heavily in the Research and Development of new solutions, powered by our motivating purpose to enable our clients to be good stewards of their clients’ investments.

Contact First Rate today to see how ExecView can help benefit your firm. If you’re interested in First Rate CORE, contact us at [email protected].

*2016 WealthManagement.com Award Winner for Compliance in Technology Providers with First Rate ExecView. 

First Rate

First Rate exists to help wealth management companies grow and thrive as stewards of their clients’ investments. Our reporting solutions help financial firms create absolute transparency while empowering investors to simplify and better understand their financial world.