PCR'S Robin Williams Offers Insights Into the Role of Transparency in Succession Planning at Opal Conference

WILTON, Conn., March 29, 2012 /PRNewswire/ -- Private Client Resources (PCR), the premier provider of private wealth aggregation and data-driven solutions for wealth managers, advisory firms, family offices and private banks is pleased to announce that its Chief Product Officer, Robin Williams, served as a featured panelist on the importance of multi-generational client relationships at Opal Financial Group's recent Trust, Tax and Estate Planning Forum.

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The forum was dedicated to sharing insights and best practices across a range of wealth management disciplines specific to succession planning, with a focus on building and strengthening multi-generational client relationships. The exodus of assets away from wealth managers once a wealth transfer has occurred is currently one of the most pressing issues affecting wealth managers. According to a PricewaterhouseCoopers survey, 98 percent of children who inherit wealth from their parents move to a different advisory relationship after the assets have been transferred.

"Increasingly sophisticated clients demand a higher level of transparency from their wealth manager, and we have developed new systems, tools and services to meet these needs," said Mr. Williams. "In order to foster deeper relationships with their clients and deliver the required level of transparency, wealth managers must adapt their reports and analysis to fit each client's unique strategy and risk tolerances. Additionally, real-time portfolio performance must be successfully leveraged to deliver custom views into a client's wealth that may now be accessed from anywhere and at any time based on the needs and wants of that client."

"It is our belief that wealth managers on PCR's Palette Platform™ are more likely to retain next-gen client relationships because that next generation -- their future clients -- are seeing a 360 degree view of their wealth in a way they are expecting it: online, on-demand and customized to their preferences," Williams added.

PCR developed the Palette Platform, a comprehensive solution that delivers robust capabilities including high-quality aggregated data, premium reporting, CRM integration and invoicing, among others. A fully integrated and scalable solution that is customized to each wealth manager's needs, PCR's Palette Platform allows users to access only those capabilities they need to better serve their clients. With the platform, wealth managers are able to gain efficiency, increase scalability and grow profitability.

"When wealth managers are able to provide a holistic view of each client's portfolio, it opens the door to broader and more meaningful discussions. If only a portion of a client's wealth is aggregated, it creates gaps in accuracy, transparency, communication and education -- all related to the trust a wealth manager seeks to forge with a client. These issues, if not properly managed, will negatively impact next-gen client retention," said Mr. Williams.

The Trust, Tax and Estate Planning Forum was held on March 2 at the Crowne Plaza Times Square in New York. Attendees included representatives of family offices, non-discretionary consultants, attorneys, accountants, life insurance firms, trust companies, investment banks, estate and tax planners, actuarial firms, life settlement companies, hedge funds, private equity firms, real estate firms, and financial planners.

For more information about PCR, please contact Jami Schlicher at 973-850-7309 or [email protected].

About Private Client Resources

Private Client Resources (PCR) is an award-winning solutions provider serving Private Banks, Family Offices and RIA firms. PCR offers innovative tools and services, including its proprietary Palette Platform™ system, that deliver a broad range of capabilities and customized solutions, including high-quality aggregated data for both traditional and alternative investments, premium client reporting with full multi-currency, interactive dashboards, rebalancing capabilities, research, risk analytics, CRM integration and invoicing.

Headquartered in Wilton, Conn., PCR is a value-driven service partner committed to positioning its clients for sustained growth. For more information, visit www.pcrinsight.com.

SOURCE Private Client Resources