Raymond James (RJF) said Tuesday that it added a new portfolio management and research tool to its platform in cooperation with FolioDynamix. The tool, which is called Portfolio Management Center, combines Raymond James’ proprietary research with a discretionary modeling, rebalancing and trading platform.
“We selected FolioDynamix for its range of functionality and flexibility, creating efficiencies for our advisors who have discretionary trading authorization on behalf of their clients,” said Vin Campagnoli (left), Raymond James chief information officer, in a press release.
“We have already rolled out new proposal and research tools, and [we] are now launching upgraded technology for discretionary manager programs, all while providing a single, seamless Web interface for advisors,” Campagnoli explained.
The latest tool can help advisors by generating customized client proposals; performing discretionary modeling, trading and rebalancing; and accessing Raymond James’ proprietary research within the context of investment and account analysis, according to the company.
Several of Raymond James 6,300-plus advisors participated in a pilot project with the portfolio over the past few months.
“This is the best piece of software that the firm has rolled out,” said David McKee, an advisor based in Fairfax, Va., in a statement. “It is very functional, easy to use, and a state-of-the-art discretionary order entry platform.”
“PMC has dramatically changed the way we trade and monitor our clients’ portfolios,” said Joel Faircloth, an advisor in Portland, Ore., in a statement “PMC not only allows us to reallocate all of our discretionary client portfolios within minutes, but we can do it with confidence because of the customizable trading rules and automated portfolio tracking. It’s like having a second and third set of eyes on the portfolios.”
Todd Knickerbocker, a Raymond James rep in Northville, Mich., says the new platform is intuitive and helpful: “We primarily use it for trading our investment models and find it has allowed us to become much more efficient. It eliminated many of the cumbersome, manual functions found in the old system and really streamlined the process.”
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