Launched in May, AssetDirections managed account services include investor profiling, transaction processing, shareholder accounting, asset allocation model management, performance measurement and sales reporting. The product is delivered privately labeled to mutual fund wrap sponsors.
To date, 15 people have joined the group, five of the positions are in the Boston office, according to a company representative. The group is headed up by Thomas Sholes, managing director of AssetDirections. Before joining PFPC, Sholes was with Federated Investors where he was directed the firms e-commerce strategy.
Additional AssetDirections offices are located in Pittsburgh and King of Prussia, PA.