Chicago Clearing Corp and InvestCloud to Announce New Partnership
- Security , Infrastructure
- 12.11.2015 00:00 am
InvestCloud, Inc, a provider of cloud-based front, middle and back office solutions focused on digitizing customer experiences and internal operations for global investment advisors, today announced a partnership with Chicago Clearing Corp., (CCC), a class-action claims recovery specialist. The partnership will deliver a technology solution for financial institutions to manage, file, and recover funds in securities class-action settlements. Financial advisors within the InvestCloud universe will now have a turnkey solution that increases value to clients by streamlining the settlement process from beginning to end.
Today, most financial advisors rely on mailings or hard-to-track industry communications just to stay informed of existing settlements. Claim filing itself requires a significant amount of paperwork filing on behalf of the Advisor and/or client. InvestCloud's customized Chicago Clearing Corp Applet will dramatically simplify this notoriously difficult process.
"InvestCloud has built an easily deployable and scalable first-class investment platform for every professional investment manager or financial institution. By partnering with Chicago Clearing Corp we are increasing our user experience and continuing to support our ongoing effort to improve advisor efficiency," said John Wise, chairman and CEO of InvestCloud, Inc. "The partnership with Chicago Clearing Corp is yet another example of how we're helping advisors to grow and achieve great results for their clients, while equipping them to become leaders in the industry."
Chicago Clearing Corp's services free up advisors from the tedium of claims-related paperwork and data mining. Chicago Clearing Corp gathers the historical trade data and immediately applies custom search criteria for all qualifying holdings relevant to a class action settlement. Chicago Clearing Corp often has the ability to manage the claims process for settlements that have passed the claim filing deadline. Chicago Clearing Corp even provides fully customizable allocations. In this way, advisors can focus their energies on what matters most -- serving their clients.
"Securities Class Actions are here to stay. Chicago Clearing Corporation is excited to partner with InvestCloud and help its users seamlessly retrieve the class action funds owed to them," said Jim Tharin, CEO of Chicago Clearing Corporation. "We believe this partnership is a major step forward for advisors, and provides the platform they need to enhance their advisor-client relationships."
With more than two decades in both the legal and the financial industries, Chicago Clearing Corp is uniquely suited to securities class action recovery. Chicago Clearing Corp has recovered over $350 million for harmed class members since its inception in 1993, and over $155 million since 2009 alone. The firm's recent work on the Bank of America settlement case helped RIAs, hedge funds, and family offices file 50,000 claims and recover over $25,000,000 in settlements. Nearly 1,300 institutional investors turn to Chicago Clearing Corp to ensure they keep up with securities settlements, and that they can focus on the real work of investing.
InvestCloud has built a proprietary technology platform that offers the investment community the ability to easily build and customize an end-to-end client and advisor digital experience. The global software and design firm serves 5 major client segments; Asset Services, Investment Management, Asset Allocators, Banking Institutions, and Platform Developers. InvestCloud has over 650 clients on the platform with 150,000 monthly users, and now supports over $1.4 trillion in assets.
To learn more about InvestCloud please visit us at www.investcloud.com