NEW YORK No software platform for separately managed accounts is without its limitations, speakers said this week at
None can handle the multiple products that advisers and their clients want to tether, and all use different interfaces, forcing many of the various parties that support managed accounts to communicate with one another via the archaic method of paper-based faxes, messengers and mail.
And while some platforms may be able to benchmark holdings against indexes, they might do a poor job of reconciling trades. Some may do a terrific job at minimizing taxes but fail to handle multiple currencies. Still others may make it easy for the legal team to do due diligence but be unable to take standing orders. And so it goes.
"But its only a matter of time before someone gets it right with a complete end-to-end solution," said Bob Hollinger, a partner with