Trust Company of America (TCA) is rolling out a new mobile platform executives claim will put registered investment advisors (RIAs) and their clients on the same page-literally-as they access and review the client's account information in real time, according to company officials.
Although other custodians and technology providers have released mobile applications for advisors, TCA officials say they're the first to offer an all-in-one platform providing trading data aggregation, performance reporting and real-time information on a range of mobile devices, including tablets.
The platform provides private labeling to its RIA clients, and also allows RIAs to make their customized applications available to clients on various app stores, including those for Apple's iPad and Android and Blackberry tablets, company officials said Monday.
TCA, an RIA custodian that rolled out the platform, called "Liberty," to its RIA clients Aug. 15, is introducing the mobile platform to clients starting Sept. 30, said Jennifer Nealson, chief marketing officer for Centennial, Colo.-based TCA. TCA Advisor, the trust company's existing suite of tools specifically designed for just advisors, will be integrated into Liberty in phases over the next 12 months, company officials said.
The appeal of Liberty said Dennis Noto Jr., TCA chief information officer,
is that it's simple, mobile and to quick to use compared to other mobile
Given the current market volatility, Nealson said investment managers are "looking for a way to create transparencies, provide more information and make it easier for the client to use."Liberty provides one-touch data recognition, where a user touches a screen and gets immediately real-time information about his or her account, Noto said.
"That means advisor and clients gett account data back instantly," Noto said. "It features live data tabs. So when you're looking at those tabs, you'll see your performance numbers, your holdings and your overview."
Apps will be available for multiple devices, including the iPad, the Motorola XOOM (Android 3.1) and the Blackberry Playbook, company officials said.
The launch of Liberty comes on the heels of TCA's joint initiative in April with Black Diamond Performance Reporting to provide RIAs and their clients with performance reporting and asset aggregation tools.
TCA president and CEO Frank Maiorano said that partnership has led to Black Diamond being embedded in the Liberty platform. Black Diamond's technology enables data to be collected from multiple custodians.