Company: First Rate, Inc.
Category: Technology Providers - Compliance
Initiative: ExecView - Managing Oversight of Client Outcomes Firm-Wide
A large independent broker dealer approached First Rate. It needed to know whether a representative who managed portfolios with investment objectives similar to firm-wide investment objectives had produced outcomes similar to those of centrally managed portfolios and to portfolios managed by other reps.
First Rate created ExecView for these kinds of situations. It helps wealth management firms identify client portfolios throughout the firm that are outliers from a performance, risk or asset/classification concentration perspective, and it can group the results by composite, rep, strategy, objective or other attributes. Unlike other solutions, which focus on current holdings, ExecView identifies outliers based on client outcomes as actually experienced.
ExecView was rolled out in late 2015 and has been adopted by six firms, with more than a dozen looking to adopt it by the end of 2016. Compliance and investment strategy team feedback shows that the product cuts to seconds the time-consuming process of collecting data from various systems in spreadsheets or other databases.
Category: Technology Providers - Corporate Social Responsibility-Diversity
Initiative: First Rate Living - Making an Impact with Corporate Values
First Rate began in 1991 with a vision for a new model of success that included an emphasis on serving the community. The firm has since developed its core corporate values into a lifestyle called First Rate Living, which includes programs on community impact, family, spiritual growth and healthy living.
Programs include: First Rate Living Weekend, to promote the importance of family and relationships with fellow employees outside of the office; the development of offices in India and Afghanistan to expand the business and its values in other parts of the world; YWAM/Homes of Hope, building homes for impoverished communities in Mexico, Dominican Republic and Costa Rica; the First Rate Living Luncheon, which recognizes partnerships with local community-serving organizations; additionally, 10 percent of gross revenue is given away each year in the form of company, employee and client contributions.
About the Company
First Rate exists to help wealth management companies grow and thrive as stewards of their client’s investments. Our reporting solutions help financial firms create absolute transparency while empowering investors to simplify and better understand their financial world.
Through First Rate’s holistic view of engagement we deliver adaptable and tailored solutions that sustain long-term relationships. With a proven track record – including more than 20 years of experience – our relentless focus on meeting the diverse needs of our partners is unmatched in the industry.
We design the best technologies and foster superior client relationships, so our partners can prosper by providing similar successful – and enduring – relationships to investors. First Rate gives financial firms peace of mind by delivering consistent, accurate results that are designed to address the specific needs of their business – and their investors.
For more information, please visit www.firstrate.com
President, First Rate