Princeton Financial Systems of Princeton, N.J., has created a new service called PAMConnect that gives customers remote access to Princeton's PAM system. PAM is a Windows-based portfolio accounting and management system used by 300 mutual funds and other institutional investors. Through PAMConnect, clients can now connect to Princeton's data center through dial-up connections using frame relay, leased lines or the Internet. Before, Princeton Financial clients would have to install PAM software at their own site. PAMConnect permits clients to out-source their data center maintenance to Princeton Financial without clients being aware of it, said Gordon Gacek, a spokesperson for the firm.
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Clients have many reasons for not divulging details on the assets they have at, including embarrassment. Advisors say it's still important to understand their total financial picture and, above all, not be judgmental.
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A note by Morningstar DBRS analysts warned of the risks working against big RIA aggregators' success in consolidating a fragmented channel of the industry so rapidly.
June 16 -
Starting your own RIA can be emotionally taxing and require extensive work — and it comes with some surprises. Here's what founders said caught them off guard when launching their own firms.
June 16 -
Clients may be wary of younger financial advisors, but firms can build strategies to allay those concerns and foster their talent.
June 16 -
The big moves hit the Swiss firm as it continues to lose advisors on a net basis — though now it's reportedly sweetening its recruiting offers.
June 15 -
As funding questions persist for Social Security and Medicare Part A, speakers at the recent AICPA conference discussed how advisors can guide clients through complex benefit rules and options.
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