OFI Private Investments, a subsidiary of OppenheimerFunds, has selected CheckFree Corp.s separately managed accounts Web application, M-Pact. The open-architecture software handles proposals, sales and investment management and is compatible with the numerous platforms that broker/dealers and registered investment advisors use to sell separately managed accounts. In addition, clients can private label services through M-Pact. Oppenheimer had already been using CheckFrees APL, its trading and portfolio management tool.
"CheckFree M-Pact enables managers to sell more accounts and better service their sponsor relationships, because it offers comprehensive [SMA] data and tools," said Alex Marasco, executive vice president and general manager at CheckFree. Jennifer Sexton, vice president and director of managed accounts at OFI, said her firm selected CheckFree because of its sales and marketing strengths. "Opening access to better analytics of manager data and manager blends will help us sell our success story more persuasively."