Financial-planning network adds aggregation, accounting to core reporting. A new agreement between gives Ameriprise Financial's 10,500 or so financial planners access to Albridge Solutions consolidated client-data connections, portfolio accounting and performance reporting platform.

Large deployment

"This leading technology is an important component of the systems we are putting in place to help our advisors deliver personalized financial advice and grow their businesses," says Glen Salow, executive v.p. of service delivery and technology at Ameriprise Financial.

An Ameriprise press release calls this agreement "one of the largest deployments of its kind," enabling advisors "to securely view and generate on demand, personalized performance reports for client accounts." It also builds on a 2004 agreement between the two firms for a core-wealth reporting application.

Minneapolis-based Ameriprise, formerly American Express Financial Advisors, supports a network of independent registered investment advisors as well as independent and in-house "discount" brokers.

Trenton, N.J.-based Albridge provides enterprise data management and web-based portfolio accounting and performance reporting to more than 130 financial-service firms with more than 70,000 financial advisors representing and $1 trillion in collective assets. -FWR

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