Thomas Huddleston, CIO
Founded in 2002, Redi2 Technologies is driven by a simple yet powerful mission of making billing better for financial services firms. Staying true to this objective, the company has designed a comprehensive wealth management billing software—Redi2 Wealth Manager—purpose-built for turnkey asset management platforms(TAMPS), wealth managers, broker-dealers, and other types of firms in the managed accounts industry. This scalable and high-performing billing system helps businesses reduce operational costs and fee leakage by configuring each client to best leverage Wealth Manager to match their operational structure. “We are one of the few players in fintech space that is focused solely on one aspect of financial technology—billing. As such, we have the bandwidth to help clients better than our competitors who focus on multiple aspects of fintech,” says Thomas Huddleston, CIO and Managing Director, Redi2 Technologies.
The wealth manager platform has been architected from the ground up, keeping the needs of firms in the managed accounts industry in mind. It allows financial entities to configure the system to best suit their specific needs. An unlimited number of fees can be defined at both the account and sleeve level, and various levels of aggregation can be applied. As a result, clients can calculate fees discretely and ensure transparency required in today’s financial regulatory environment.
“Businesses can calculate one to an unlimited number of fees based on their firm’s assets and aggregations using different billing, valuation, and flow calculation methods. This design makes the system very scalable. For example, one of our largest clients manages over two million accounts using Wealth Manager,” Huddleston adds. “Our clients can easily run periodic billing quarterly or monthly.
Our firm is solely focused on solving our clients’ billing challenges. That focus allows us to solve issues faster and with greater nuance
Billing can also run daily to process inceptions, terminations, reassignments, and the related proration and adjustments associated with these occurrences.”
From a technology standpoint, what sets Redi2 Wealth Manager a notch above other billing software solutions is its comprehensive, flexible billing rules. Businesses can seamlessly set up and automate even the most complex billing arrangements without worrying about their custom billing structure. It also has complex payout rules for any custom negotiated payouts that happen with advisors, institutional clients, and third-party partnerships. “Also, our system can work with any portfolio management system or data aggregator to offer premier billing services to a common client,” Huddleston adds. More importantly, the wealth manager has specific billing templates that facilitate the maintenance of book-of-business aggregation and discounting. Finally, the company helps clients set up and process billing for their complex client relationships. “We have a top-notch, white-glove client service team that advises clients regularly and maintains a long-term relationship with them,” mentions Huddleston.
Henotes that the complexity of wealth management billing is on the rise as financial institutions contend with demands for greater transparency.
Keeping this in mind, Redi2 Technologies is currently developing an advisor portal that will help businesses seamlessly share billing details with their advisors, allowing advisors to self-service and unburdening operation’s resources from needing to address these types of inquiries.
In a nutshell, Redi2 Technologies is determined to address all the billing complexities facing financial services entities while providing clients with more efficient and accurate processing and reporting. “Innovation is in our DNA. Our firm is solely focused on solving our clients’ billing challenges. That focus allows us to solve issues faster and with greater nuance. The monolithic big-box financial solutions in our industry simply cannot compete with us at this level,” Huddleston concludes.