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January 20, 2017 at 04:00 AM
Raymond James has chosen AxiomSL to provide broker-dealer and bank holding data aggregation and reporting solutions, the firm announced on Thursday.
AxiomSL’s platform will help with daily net capital and customer reserve calculations, as well as Treasury international capital and FOCUS reports. It will also integrate Federal Reserve FR Y-9C reports, Call reports and Basel risk-weighted asset calculations.
“As part of our larger goal of data management transformation, Raymond James was looking for a strategic technology partner that could help with a significant portion of our critical reporting,” David Lesser, senior vice president of technology at Raymond James, said in a statement. “AxiomSL’s expertise working with complex, diversified institutions and ability to implement these solutions over a number of years was exactly what we were looking for.”
Zacks Advantage announced on Wednesday that it has launched an institutional robo-advisor in addition to its client-facing robo.
Zacks Advantage Institutional will help advisors give small to medium-sized clients active portfolio management on an automated platform. Zacks combines active and passive management by employing a team of managers who build ETF portfolios for clients.
“Our automated, actively managed wealth management service is an ideal solution for independent advisors who need fully transparent, low-cost ETF solutions for their small to mid-size clients to comply with the DOL Fiduciary rules come into effect on April 10,” Scott Schneider, president of Zacks, said in a statement.
Schneider believes the combination of active and passive management is ideal in transitional periods that could increase volatility, like the handing over of power from one president to another.
