Challenge

The second largest, privately held independent broker/dealer in the U.S. needed to replace its aging fund accounting system software package, and wanted more measurement and reporting capabilities.

The firm was unsure if it should purchase another software package, or if a custom application might better serve its clients, which are independent financial professionals and advisors across the U.S.

Solution

In phase one of the project, Starpoint first analyzed and created business requirements for the firm’s current and future needs.  The firm used these business requirements to research software packages. Starpoint assisted the firm in reviewing software packages, and provided a proposal for a custom-build solution to compare against the packages.

The firm decided that Starpoint’s custom solution using our integrated global outsourcing model was the best value, because it was very cost effective, contained no ongoing licensing fees, and provided exactly the solution they required. Starpoint developed a Preferred Portfolio Services Group Operating System with Performance Measurement and Attribution for the firm.

The system reduces time, cost, and resources required to conduct daily operations, streamlines operations between the Services Group and other departments, and provides an easy-to-maintain system that is highly flexible and adaptable to changing business needs.