Lord Abbett & Co. has extended its contract with Fiserv for Unified Wealth Platform for managed account portfolio trading, accounting and model management.
In addition, Lord Abbett has also added Messaging Services, part of the Wealth Management Network from Fiserv, for real-time messaging.
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Messaging Services from Fiserv serves as a centralized data management and communication portal, and will provide Lord Abbett with an efficient and standard way to get data into and out of its Fiserv platforms while communicating in real-time to different systems, including workflow solutions.
The Unified Wealth Platform from Fiserv represents the integration of its front-, middle- and back-office wealth management technology through three main components of the platform: Financial Advice Management (front), Portfolio Management & Trading (middle) and Performance & Investor Reporting (back).
Joan Binstock, chief operating officer of Lord Abbett, said: "The automated solution has helped significantly reduce the time our associates spend adding new accounts, updating existing accounts and retrieving account data, allowing us to reallocate our resources to focus on higher priority tasks."
Cheryl Nash, president of investment services at Fiserv, said: "The renewal and expansion of our relationship with Lord Abbett is a testament to the reliability and value of our products, and our commitment to continually adapt our offerings to meet emerging client needs.
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By GlobalData"Adding Messaging Services to the already powerful tools they have in the Unified Wealth Platform will allow Lord Abbett to be even more efficient and better serve their customers," Nash added.
