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October 8, 2002
FOR IMMEDIATE RELEASE
Lincoln Financial Advisors/Sagemark Consulting Taps
StatementOne for Enterprise Data Consolidation
Consolidated Data to Power Lincolns Advisor
Workstation Application
LAWRENCEVILLE, NJ Lincoln Financial Advisors
(LFA)/ Sagemark Consulting, a member of the Lincoln
Financial Group of companies, today announced that it
has partnered with StatementOne, which will provide
them with data aggregation services to be utilized by
the firms roughly 2,200 independent financial
planners.
LFA/Sagemark Consulting, one of the premier fee-based
financial planning organizations, has identified the
ability to utilize client aggregated data for both planning
and reporting as a significant benefit to their planning
process. StatementOne collects data on a daily basis
through live feeds from a variety of clearing sources,
custodians and legacy systems and then creates a scalable,
unified database. StatementOnes "data replication"
service will deliver the unified data structure "on
premise."
According to LFA Managing Director Gary K. Dorfman,
responsible for overseeing LFA/Sagemark Consulting's
wealth management business, "Our ultimate goal
is to create a platform that combines cutting-edge technology
with investment products and services. We believe by
offering our planners a seamless process, providing
them the ability to create a customized solution tailored
to their clients unique financial situation, positions
our planners to have a significant competitive advantage
when advising affluent investors. StatementOne's aggregation
capabilities will play a critical role in providing
us the data required to power our new wealth management
platform and our next generation of sophisticated planning
tools."
According to LFA's Chief Information Officer, James
E. Erickson, "The aggregation of client account
data will provide our planners with a more comprehensive
view of their clients' holdings. This aggregated data
enables LFA to provide our planners with the capability
to see a clear picture of their clients' complete financial
situation. This enables us to create a customized financial
plan that integrates their estate, investment and retirement
needs so that we can effectively assist them in accomplishing
their financial goals. By having the aggregated data
pushed directly into our sophisticated analytical and
diagnostic tools, planners will now spend less time
gathering client account data and more time analyzing
and creating solutions. We looked very closely at StatementOne
during the due diligence process and concluded that
they are really the premier provider capable of delivering
scalable, accurate data."
"Were very excited to be working with LFA/Sagemark
Consulting to power their best-of-breed financial planning
and wealth management platform in this venture, which
will showcase the data management expertise that weve
honed over the past several years," said Greg Pacholski,
StatementOnes President and Chief Operating Officer.
"Through some fairly sophisticated, proprietary
data-cleansing techniques, well be providing Lincoln
with consolidated, daily transaction-level data. Theyll
use this data to power their new wealth management platform,
enabling their advisors to better serve their clients."
Adds Pacholski, "Lincoln joins a growing number
of our pure 'data replication' clients, and it underscores
both the value of the transaction-level data and, more
importantly, the added value we provide through our
specialized collection and normalization process. StatementOne's
consolidation solution provides a proven way in which
financial institutions can help boost their top-line
revenue, while at the same time reducing administrative
costs. It's a win-win solution all around."
About Lincoln
Lincoln Financial Advisors, a broker-dealer and registered
investment advisor, and Sagemark Consulting, a division
of Lincoln Financial Advisors, are members of Lincoln
Financial Group, the marketing name for the Lincoln
National Corporation (NYSE: LNC) and its affiliates.
Lincoln Financial Group has consolidated assets of $98
billion and annual consolidated revenues of $6.4 billion.
Through its wealth accumulation and protection businesses,
the company provides annuities, life insurance, 401(k)
plans, mutual funds, managed accounts, institutional
investment and financial planning and advisory services.
About Statementone
StatementOne consolidates data for financial institutions
and other enterprises, collecting transaction-level
data sets from both legacy systems and external custodians,
utilizing direct data feeds. They currently manage account
data for 43 financial institution clients, representing
over a hundred billion dollars in assets, tens of thousands
of financial advisors and millions of investors and
individual accounts. They provide a secure, web-based,
turnkey service which delivers securities account aggregation,
portfolio accounting and performance reporting to financial
institutions, branch managers, registered representatives
and their investor clients. Their proprietary software
cleans, organizes and reconciles the data, producing
a consolidated, unified data structure, with virtually
no manual intervention. This scalable database is also
used to feed critical, best-of-breed applications for
use in business planning, analytics and CRM. Their current
clients include independent broker/dealers, banks, credit
unions and other financial institutions.
David Z. Orban,
Vice President of marketing
(609) 806-0227.
For more
information on this article please go to
www.statementone.com
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