PNC Institutional Advisory Solutions, part of the asset management arm of The PNC Financial Services Group, Inc., has adopted RiskFirst’s PFaroe to help structure better solutions, improve reporting efficiency and deepen engagement with its defined benefit (DB) pension plan clients. This will help support its Asset Liability Management offering, which has witnessed strong growth in assets under management since 2015.

PNC Institutional Advisory Solutions will use PFaroe to work with clients in a more interactive way, assisting in evolving solutions over time. PFaroe’s forecasting models will also be leveraged by PNC Institutional Advisory Solutions to evaluate the impact of implementing new investment strategies, as well as with the coordination and structuring of funded status-based and interest rate-based ’glide paths’. A major benefit of using PFaroe will be the ability to automate and improve the quality of reporting to clients, resulting in a better and more efficient solution.

Caleb Croquart, director of Investments, PNC Institutional Advisory Solutions, says: “RiskFirst’s platform clearly improved on our existing offering, and we were also impressed with their dedication to continually invest and innovate, which will support us from a technology standpoint.”

Kimberlene Matthews, director of Asset Liability Management, PNC Institutional Advisory Solutions, adds: “The efficiency gains brought by PFaroe allow us to focus on helping clients develop successful investment strategies and providing excellent client service. More time in front of clients, and more in-depth, proactive conversations using an interactive tool like PFaroe, should help to further speed our pace of growth.”

Matthew Seymour, CEO, RiskFirst, comments: “We are extremely pleased to be helping PNC Institutional Advisory Solutions develop and improve their offering through the use of PFaroe. Not only do clients find PFaroe useful in winning new business, it is also drives efficiency, automates reporting and executes asset allocation exercises efficiently – all of which will help PNC Institutional Advisory Solutions as they continue to scale-up. By removing the burden of report preparation and number-crunching, PNC can focus on providing value-added analysis to existing clients and securing new ones.”