Fidelity Investments Institutional Brokerage Group announced the launch of PracticeAdvantage, an integrated suite of practice-management solutions designed to help RIAs manage and grow their practices by providing one-stop access to Fidelity's business-building programs and business alliances. PracticeAdvantage, which is the first bundled program offered to RIAs, is available to all advisor clients through AdvisorCHANNEL.com, Fidelity's client Web site. PracticeAdvantage is expected to be available to correspondent broker/dealers in 2002. PracticeAdvantage builds upon PracticeMark, Fidelity's integrated online-marketing program, to provide advisors with a suite of business-building ideas, strategies and tools.
Macgregor, a global provider of trade order management systems (OMS) and FIX network services to institutional investors, announced that Batterymarch FinancialManagement, Inc. has selected the Macgregor Financial Trading Platform, Macgregor's real-time OMS, to replace its existing OMS on its Domestic, International and Emerging Markets equity desks. In the first stage of the implementation, MFTP will be installed on the International and Emerging Markets desks, replacing another third-party OMS. MFTP will be installed on the Domestic desk in the second stage of the implementation, and will replace a proprietary in-house system at that time.
The FIX Web site now has two new discussion forums that are specifically designated for "solicitation". Participation in and e-mail based notification of postings from these (and all other) forums is on a voluntary, "opt-in" basis. FIX Web site users may adjust their subscriptions via "Edit Profile" button at the top of the FIX Web page: 1) "Product Discussion" is as an acceptable place in which vendors may announce/promote their products and in which prospective FIX users may ask "Which products can ....?" questions. 2) "Help Wanted" is as an acceptable place in which employers and recruiters may announce/promote their interest in hiring individuals with FIX expertise and vice-versa.
AdvisorCentral LLC -- a company owned jointly by Fidelity Investments, Franklin Templeton Investors Services, Inc., Putnam Investments and PFPC Inc., a member of The PNC Financial Services Group, Inc. -- announced the launch of its industry-wide Internet portal for financial advisors, AdvisorCentral.com. AdvisorCentral.com offers financial advisors one-stop access to consolidated mutual fund account information, mutual fund transaction capabilities, processing and customer service. AdvisorCentral LLC also announced that Joseph T. Grause Jr., formerly head of American General Asset Management Co., has been named its president and chief executive officer.