SOURCE: ByAllAccounts


February 07, 2011 08:30 ET

ByAllAccounts Aggregates Over $200 Billion in Investor Assets Daily

Including More Than $1 Billion Each From 27 Financial Institutions

BOSTON, MA--(Marketwire - February 7, 2011) -  ByAllAccounts, Inc., the financial advisors' choice for account aggregation, today announced that assets flowing daily through its aggregation engine exceeded $200 billion in 2010, an increase of 68 percent over 2009. ByAllAccounts now aggregates more than $1 billion daily from 27 financial institutions. A steady increase in demand for ByAllAccounts aggregation product from financial advisors propelled the company's growth. By focusing exclusively on gathering and enriching financial account data ByAllAccounts is best positioned to deliver the programs, tools and resources needed to help financial advisors successfully serve and grow their clients' wealth. 

"The thousands of financial advisors who have engaged with ByAllAccounts have benefited from unique technology, valuable partnerships and an educational thought leadership program that has enabled greater agility in responding to market and regulatory changes," said James Carney, ByAllAccounts president and CEO. "And, as our clients have successfully grown their businesses they have relied on us to enable them to provide a superior level of service to their clients." 

The company's growth was fueled by financial advisors' need to provide advice based on a complete view of their clients' assets, including 401(k)s and other held-away accounts. 2010 marked several business milestones, including:

  • 68 percent increase in assets under aggregation from 2009 to 2010
  • 40 percent growth in customers, including a strong demand for ByAllAccounts services through industry leading partners
  • Announced agreement with Morningstar Inc. to provide enhanced access to aggregated client account data for users of Morningstar® Principia® Client Access Management System (CAMS)
  • Announced strategic partnerships with compliance, CRM, business automation and technology firms: Compliance11; Ebix CRM; Tamarac; SmartStream; FamilyOfficeNetwork®; and Cornerstone Revolutions; and Total Rebalance Expert (TRX)
  • Received $5 million in Series B funding, led by Castile Ventures, to expand in the advisory market and increase its presence in the institutional market
  • Bolstered executive staff with addition of sales and business development veteran Joseph A. Murphy, as executive vice president 

In 2010 the company also launched additional product offerings and educational thought leadership programs including:

  • WebPortfolio Compliance Edition: ByAllAccounts WebPortfolio Compliance provides a secure and cost-effective option for advisors who want the benefits of account aggregation without taking receipt of client login credentials, thereby eliminating custody of those assets. 
  • Monthly Educational Webinar Series: The educational webinar series was designed to raise advisors' knowledge of hot topics. Live webinars featured expert speakers from National Compliance Services, National Regulatory Services, BoulevardR, WiredAdvisor and Wagner Law Associates. On-demand replays of these events are online at
  • Original Industry Research: ByAllAccounts sponsored surveys that shared the experiences and opinions of financial advisors. Surveys highlighted the top reasons financial advisors would consider a new portfolio management system; financial advisors' views about Dodd-Frank and other Wall Street regulations; investor "must-have" technologies; and the facts surrounding missed growth opportunities. 
  • Client Virtual Roundtable:  ByAllAccounts hosted its first client-specific virtual roundtable. 

"In 2011 ByAllAccounts will continue to focus on helping advisors determine how to best attract new high net worth clients, increase assets under management and grow revenues with the launch of the SMART Decisions educational series," said Cynthia Stephens, ByAllAccounts vice president of marketing. "Each month we will showcase financial advisors and the decisions they made to solve business problems and grow their businesses, giving RIAs the tools they need to properly preserve and grow their clients' wealth and confidently plan for the future." 

With its strong industry partnerships and thought leadership programs scheduled throughout 2011, ByAllAccounts' services will continue to allow financial advisors the opportunity to concentrate on core competencies, provide a greater level of service to their clients, increase productivity and maximize profits.

About ByAllAccounts, Inc.
ByAllAccounts, the financial advisors' choice for account aggregation since 1999, is the only service that retrieves, enriches and consolidates reconciliation-ready account data from any custodian. ByAllAccounts' patented aggregation engine, through which hundreds of billions of dollars in assets and millions of financial data records flow, aggregates all client account data -- from any source -- within an advisor's wealth management platform or trust accounting system for a truly comprehensive view. Thousands of advisors rely on ByAllAccounts to save administrative time and costs, mitigate risk associated with having incomplete information and grow revenues through client referrals and new business development. ByAllAccounts integrates seamlessly with all of the most popular wealth management platforms. For more information, visit

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