PrimeVest Financial Services, a third-party marketer of financial services in the US, has implemented Broadridge’s Aspire portfolio accounting and performance reporting service, to comply with new IRS requirements and provide advanced performance reporting to its more than 400,000 accounts.
According to Broadridge, the Aspire service delivers advanced performance reporting, advanced portfolio analytics, and lot-level cost basis tracking and reporting in a single package. It upgrades broker-dealers’ cost basis tracking to comply with new regulations.
Broadridge’s Aspire portfolio accounting and performance reporting service can use any books-and-records back-office solution and supports multiple currencies and subaccounts.
Catherine Bonneau, president and CEO of PrimeVest, said: “Ahead of the IRS deadline, this enhancement makes it easier for our clients to meet all the IRS requirements and have the added benefit of flexible performance reporting. By working closely with Broadridge for these critical functions, we are much more confident in our ability to stay ahead, despite the rapidly changing landscape.”