Third Financial stays alert with acquisition

29 May 2008

Third Financial Software has acquired the rights to a unique proactive alerts technology. Following a period of joint development, the new technology has been launched specifically to meet the compliance and regulatory needs of the wealth management community.

Fully integrated into tercero, Third Financial Software’s wealth management platform, the technology provides wealth managers with a solution for compliance, risk and portfolio monitoring. The new module, tercero Alerts is already being implemented at Third Financial Software’s early adopters and advisory clients.

“The increased demand for transparency and greater scrutiny from investors, internal management and external regulatory bodies has placed pressure on asset managers to improve their compliance controls,” said Stewart Foster, director and founder of Third Financial Software. “Using rules-based technology, tercero Alerts identifies, and automatically reacts to breaches. Rules are completely user driven and can be set to monitor investment restrictions, risk exposures, trading breaches and virtually any other user defined rules.”

The solution is also designed to address calls for wealth managers to prove they are accurately monitoring client investment rules and employing sound compliance and risk practices. Through a set of graphical gadgets on the desktop, compliance officers, executives and managers can monitor risk, positions, portfolios, trades and allocations.