RIA Performance Reporting Solution, AssetBook, Gets A Nifty New Graphical User Interface

Monday, January 16, 2012 11:14
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RIA Performance Reporting Solution, AssetBook, Gets A Nifty New Graphical User Interface

Tags: Portfolio Management Software

AssetBook, a web-based performance reporting app, has a spiffy new user interface that uses Microsoft Silverlight as its graphics engine.

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Microsoft Silverlight, says Wikipedia, is an application framework used by software developers for writing and running rich Internet applications, with features and purposes similar to those of Adobe Flash. The result is a modern new look for a relatively low-cost performance reporting solution for RIAs.
 
 
AssetBook’s Rob Major, in the accompanying eight-minute video gives a tour of the new features.
 
AssetBook is located in McHenry, Maryland, a rural town about 10 miles from West Virginia. I went to visit Major about 18 months ago and Major Technology now has 20 employees and is a charming little venture.
 
Major was a co-founder of Techfi, which made Portfolio 2000. That firm was bought by Advent about 10 years ago and Major could probably have retired after that. But a year or two after that deal, Major began building AssetBook.
 
AssetBook a classic entrepreneurial adventure. Major has been iteratively building a better solution system for 10 years, and he’s now developed valuable performance reporting solution for RIAs.
 
AssetBook downloads data for RIAs from custodians. Advisors can change their account data if needed or work with the service team at AssetBook to clean up issues. So it’s more than software because Major has a service component into the solution.
 
Major says his major competitor is Morningstar’s performance reporting solution. You can see advisor reviews of both apps on A4A.
 
A big difference between AssetBook and Morningstar's PMS app is that Morningstar is building a single app for CRM, financial planning, and analytics as well as portfolio management. AssetBook is just building the PMS app and will integrate with other apps so advisors can choose which CRM, financial planning and other apps they want to use. AssetBook's approach is more work for advisors but provides a lot more flexibility and choice.  
 
Major says AssetBook currently costs $24 per year per client but that is being raised to $28 when the new GUI goes live in February.
 

 

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