WILTON, Conn., July 28, 2016 — Private Client Resources (PCR), the leader in wealth data aggregation and reporting for Private Banks, RIAs and Family Offices, is pleased to announce that Bob Miller, Founder and former CEO of CorrectNet and a pioneer in the web-based delivery of consolidated investment data, has joined the firm as its Vice Chairman and Strategic Advisor.
According to Robert Fiore, President and CEO of PCR, “Over the past seven months, Bob and I have worked closely together with management to shape the vision for a new PCR. His knowledge of the market, expertise and process for delivering a world-class enterprise solution are driving broad adoption of PCR services. Over the next 18 months, we plan to double the assets we aggregate for advisors and their ultra-high-net-worth clients.”
As founder and CEO of four FinTech companies, Mr. Miller has a long history delivering managed solutions to the financial services industry. His most recent company, CorrectNet, was a venture capital backed provider of aggregation and reporting for Institutional Asset Managers, Prime Brokers and Hedge Fund Administrators. CorrectNet was sold a few years ago after achieving impressive growth post the financial crisis (the firm was recently sold again to Markit). CorrectNet’s clients included 16 of the top 25 global investment firms.
In a recent interview, Bob summarized the company’s value proposition, “PCR is the only—yes, only—company that has mastered the nuances of aggregating a total wealth view of the complex investments of ultra-high-net-worth families. These accounts include illiquid, hard to aggregate assets and liabilities that are extremely difficult to make analytics-grade data from. The company’s services are a must have for advisors striving to provide the best possible advice to their ultra-high-net-worth families who’s portfolios often include 30-60% of these types of investments. I am extremely pleased to be part of the team and to help bring these services to a broader market.”
For more than a decade, PCR has provided an outsourced reporting solution to private clients. At the core of the company’s success was the ability to bring together very complex data for advisors and their clients. Over the past 12 months, PCR has expanded their traditional reporting offering and now offers data as a service, new mobile client communication capabilities, enrollment automation tools and the ability to access data via APIs.
“PCR was born from family offices and has developed capabilities specific to their unique and continuously evolving needs. Bob joins us with a demonstrated passion for delivering value and a focused approach to serving wealth management markets. The combination will continue to place PCR at the center of how wealthy families and their advisors collaborate in an ever-changing relationship,” said Josh Fidler, Chairman of PCR.
About Private Client Resources
PCR is the leading aggregator of total wealth data for ultra-high-net-worth families. The Company uses a unique process significantly more secure than typical “screen scrape” technologies that rely on clients sharing their usernames and passwords. PCR helps Private Banks, RIAs and Family Offices better serve their clients with a consolidation of both electronic and difficult-to-acquire manual statement-based accounts. This enriched information is made available as analytics-ready data at an accuracy of 99.86%. PCR supports an architecture of self-serve data feeds, open APIs, web and mobile communication tools, and comprehensive client report packages.