First Southwest to send platform via B-Ds

The clearing firm's B-Ds will provide consolidated performance reporting across all accounts.
OCT 08, 2007
By  Bloomberg
First Southwest Correspondent Clearing of Dallas is the first clearing firm to announce that it is providing its network of broker-dealers with direct access to the technology platform of Albridge Solutions Inc. The rollout is scheduled to start later this year. This will enable the clearing firm’s broker-dealers to provide consolidated performance reporting across all of their clients’ accounts. The rollout will start with a limited number of its introducing broker-dealer clients by the fourth quarter. Depending on the success of the initiative, First Southwest might later extend this service to its full client base of approximately 75 introducing broker-dealers. “Financial advisers affiliated with our introducing broker-dealer clients will have a powerful technology at their fingertips that delivers a single view of their clients’ assets and is central to their efforts to increase client assets and accounts,” John Muschalek, managing director of First Southwest, said in a statement. “Recent research highlights that 50% of advisers do not have access to a ‘single client view.’ Our relationship with Albridge enables First Southwest’s clients to address this gap and provide their advisors with a significant advantage in delivering a higher level of wealth management and client service that only a select few can offer to investors in today’s marketplace.”

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