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Adviser Investments Streamlines High-Volume Cash Actions on Plan Distributions with RedBlack

August 24, 2020

Adviser Investments

Newton, Mass.-based registered investment advisor (RIA) and family office, Adviser Investments has expanded its use of RedBlack’s rebalancing software to manage the raising and investment of cash across client accounts tracked in multiple custodial distribution plans.

Recently released RedBlack enhancements provide additional workflows that enable the Adviser Investments’ client team to take client requests for ad-hoc cash needs. They also allow the firm’s trading team to ensure cash coverage for scheduled distributions, ad-hoc disbursement requests and quarterly fees. Integrating with the Orion Advisor Services portfolio accounting platform, RedBlack bulk uploads cash actions and payment instructions on demand, identifies which accounts to trade based on imported account numbers or other identifiers, and rebalances according to distribution activity.

Julianne Catlin, assistant director of operations at Adviser Investments, said: “RedBlack provides a flexible rebalancer in a single trading platform for our firm, enabling us to efficiently import cash transactions in bulk, meet raise and invest cash needs around disbursements across many accounts, and improve the management of cash rebalances across portfolios and multiple custodians. RedBlack excels in consistently delivering high-quality support, expertise and new capabilities to flex along with us as our firm grows and evolves.”

John Grimaldi, chief operating officer at RedBlack Software, said: “Achieving greater flexibility and scalability across trading operations is key to increasing growth and service quality for wealth management and RIA firms, and Adviser Investments is no exception. RedBlack’s integration with Orion and other portfolio accounting systems, combined with our aggressive delivery of new enhancements each year, drive significant improvements in time savings and productivity across teams.”

In addition to providing options for invest and raise cash and the ability to import accounts for a rebalance or trade action from a file, RedBlack gives firms the ability to import restrictions, equivalents, and account and household attributes, as well as customize the rebalance settings for a group of portfolios.

Braver Wealth Management (acquired by Adviser Investments in 2017) began using RedBlack for rebalancing, trading and order management in 2013. Adviser Investments adopted the RedBlack solution following the acquisition, enabling it to quickly scale trading and rebalancing to more than four times the assets under management (AUM) handled on the platform.

Founded in 1994, Adviser Investments offers expertise in actively managed mutual funds, ETFs, individual stocks and bonds, socially responsible investments, tactical strategies and financial planning, with the added proficiency in the Vanguard and Fidelity fund families—delivering the resources and capabilities of a large firm with the care and attention of a small one.