Private Client Resources (PCR) Announces Milestones Leading to $250B in Assets Under Aggregation

NEW YORK, Feb. 22, 2018 /PRNewswire/ — Private Client Resources (PCR), the leading provider of total wealth data aggregation services to UHNW families, Trust Companies, Private Banks, and Investment Advisors, today announced major milestones that are driving a doubling of the assets the firm aggregates on behalf of wealthy families.

“Over the past few months we have had the most significant new business growth in the company’s history, leading to $250B in assets under aggregation. Driven by many technological and operating model changes, PCR is now a scalable and secure alternative for large financial institutions striving to efficiently satisfy the demand for clean investment data for their UHNW clients,” said Bob Miller, PCR CEO and Vice Chairman. “The nature of these initiatives are far-reaching, illustrating the firm-wide commitment of our clients to institutionalize the wealth data management process. The impact on our business has been significant with the value of new client contracts increasing by 4-6x annually.”

The company cites a number of product innovations brought to market this year as the foundation of the significant uptick in the use of its services. These include new digital enrollment technologies that streamline the on-boarding of new clients, a fully anonymized data architecture that protects client personal identifying information (PII) and satisfies numerous business and global regulatory concerns (e.g. GDPR standards in Europe), and a re-imagined architecture that goes beyond just feeds and makes data available in a fully extensible data warehouse from which data can be streamed and integrated throughout.

“Our business model has evolved. We are a ‘total wealth aggregator’ – not just passed-through custodial data or screen scraped assets. PCR is now the leading specialist in the hard-to-aggregate, hard-to-reconcile illiquid assets that dominate the portfolios of UHNW families. We are committed to providing a cost-effective model. We have eliminated the ‘assets based pricing’ used by most providers and implemented a simple account based model that reduces aggregation costs to fractions of a basis point – 2-3x less expensive than competitors,” said Miller.

The company also announced numerous new partnerships with wealth management technology providers. “There are estimates of 72,000 UHNW families in North America alone, and we believe our service is valuable to each and every one of them – regardless of the technology platforms they use for accounting, reporting or investment decision making. To best service them, we have embarked on numerous new partnerships in which firms such as InvestCloud, AltaReturn, HWA International, Ledgex and others are integrating our data aggregation capabilities into their offerings. We expect this trend to continue,” said Brian Shapiro, Head of Strategic Partnerships at PCR.

About Private Client Resources (PCR)

PCR is changing the way the world’s wealthiest families and their advisors manage and analyze their complex investment data. TotalWealthStream^TM, the company’s award-winning wealth information management platform, combines data aggregated from over 400 custodians with alternative transactions curated from the investor communications of almost 2,000 managers. Over $250B in assets are delivered to their reporting, accounting, risk management and analytics platforms daily.

PCR is trusted by leading Private Banks, Registered Investment Advisors, Trust Companies, Family Offices and Technology Firms serving wealthy families.