#United States #New York City #Ascentix Partners #PureFacts Financial #A.I. Revenue Management

Strategic Partnership Announcement

Ascentix Partners, recognized as a top strategy consultancy in the wealth management sector, and PureFacts Financial Solutions, a leader in revenue management software, have declared a strategic partnership that aims to reshape how wealth management enterprises approach revenue optimization. This collaboration is poised to deliver a blend of technological innovation, advisory expertise, and private equity insights, seeking to empower these firms in navigating the modern financial landscape.

Transforming Revenue Optimization

Ascentix specializes in driving growth within wealth management enterprises, while PureFacts offers advanced tools tailored for revenue lifecycle management. The partnership aims to help firms across the wealth management spectrum enhance transparency, efficiency, and overall growth concerning fees, billing processes, compensation, and practice management.

Larry Roth, the Founder and Managing Partner of Ascentix, emphasized the increasing pressure from private equity sponsors for Registered Investment Advisory (RIA) firms to meet ambitious growth objectives. Historically, approaches to achieve these targets have largely revolved around acquiring new clients, cutting costs, or growing asset bases. Roth noted that the integration of PureFacts' innovative solutions provides a critical component that accesses revenue optimization through a comprehensive approach, identifying and leveraging untapped revenue streams.

The Power of PureFacts' Technology

The PureRevenue Platform, developed by PureFacts, enables wealth and asset management firms to treat revenue management as a cohesive and interconnected process. By implementing systems that ensure a stringent pricing discipline, firms can accurately align fees with the value they provide to clients while reducing inefficiencies in the billing cycle. Features of the platform include tools for fee calculation, governance, and advisor compensation, leading to a harmonized system that enhances revenue performance.

Key Components of the PureRevenue Platform

1. Fees & Billing: This feature assists firms in accurately computing complex fee revenue while maintaining utmost precision, ensuring that avoidable errors are entirely eliminated.
2. Advisor Compensation: Designed to align with corporate strategies, this tool facilitates fair compensation for advisors, minimizing disputes and fostering behaviors conducive to business growth.
3. Practice Management: Offers advisors and firm leadership actionable insights across various metrics, including client value and pricing, thus strengthening relationships and improving revenue capture from existing clients.

Growth Insights from Industry Leaders

Pete Hess, President of PureFacts, articulated that achieving organic growth is one of the most pressing challenges wealth and asset management firms face today. He believes this partnership brings a unique understanding of this challenge to the fore, harnessing the combined strengths of both firms to assist industry leaders in optimizing practices. By fostering better pricing strategies and capturing previously earned revenue, the collaboration seeks to drastically enhance advisors' performance and contribute to accelerated growth.

About the Companies

PureFacts

PureFacts is acknowledged as a pioneering force in Revenue Performance Management for wealth and asset management sectors, providing essential tools to amplify revenue potential. The PureRevenue Platform integrates various aspects of pricing, billing, and advisor behavior management into one cohesive framework. Established over 25 years ago, the company has been instrumental in aiding financial institutions in transforming their revenue models into strategic advantages.

Ascentix Partners

Based in New York City, with a presence in Los Angeles, Ascentix Partners is dedicated to driving enterprise growth in the wealth management industry. They offer strategic growth planning, consulting services, and brand development, catering to RIAs, dual registrant firms, family office solutions, and technology providers in the financial sector.

For more details about the partnership and how it can impact the wealth management industry, visit Ascentix and PureFacts.

Conclusion

Through this innovative partnership, Ascentix and PureFacts are setting the stage for a transformative approach to revenue management, offering wealth management firms the tools needed to not only meet but exceed their growth ambitions in an increasingly competitive market.