OTTAWA, ON—(Marketwired – June 16, 2017) – We are advised by TechInsights that journalists and other readers should disregard the news release, “TechInsights Finds Microsoft Azure IP Advantage Portfolio Ranks First in Cloud Innovation” issued today, June 16, 2017, over Marketwired.
One Billion Dollar Impact-Investing Team Joins Vanderbilt Financial Group, the Sustainable Broker Dealer and RIA
WOODBURY, NY—(Marketwired – June 16, 2017) – Vanderbilt Financial Group, also known as The Sustainable Broker Dealer and RIA, continues their recruiting streak making their voice heard in the Impact Investing community and shaking up the Investment world with their passion for, “Teaching clients how to do good with the money they invest,” as Chief Disruption Officer and CEO, Steve Distante says.
Vanderbilt has seen an increase of over 30% in Financial Advisors over the past year. The 20 new Registered Representatives are located in three branch offices in New Jersey and New York City. This team is well aligned with Vanderbilt's intense focus on Impact Investing (also known as ESG or Environmental Social Governance focused and as SRI or Socially Responsible Impact Investing).
Distante's excitement is clear as he continues, “Supporting our advisors' passion for Impact Investing is our passion as well; creating a community of like–minded financial advisors is just the start of how we will impact the investing community. Just last month, we received SEC approval and are finalizing FINRA approval for our Impact Focused Crowd Funding site, which will allow both accredited and more importantly, non–accredited investors or 'regular people' to invest in projects that are meaningful. We are honored to be selected by this team of advisors who found us through our www.ImpactU.me initiative. ImpactU.me was created to educate the investing public and financial advisors about Impact Investing. ImpactU.me also offers the industry's only Impact certification, the SIP or Sustainable Investment Professional Certification in partnership with Concordia University.”
Vanderbilt's COO, Joseph Trifiletti added, “In an environment of downsizing and consolidation in the financial services industry, we are so grateful for our continued growth and the overwhelming response from the Impact/ESG community. We see no end in sight! Our firm is well equipped to serve the needs of those advisors who embrace Impact, because we respect and appreciate this very special type of investing.”
About Vanderbilt Financial Group: Founded over 50 years ago in 1965 and located in Woodbury, NY, Vanderbilt Financial Group is the Entrepreneurial Broker Dealer known as the Sustainable Broker Dealer and RIA committed to investing with purpose. Vanderbilt is a full service Broker Dealer and Advisory firm with a focus on Impact Investing. Vanderbilt's refreshing, unique, and innovative culture is a driving force to constantly strive to positively impact their community. To learn more, check out http://joinvanderbilt.com/.
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Avadim Technologies Engages ASGARD Partners & Co. as Merchant Banking Partner & Strategic Advisor
ASHEVILLE, NC—(Marketwired – June 16, 2017) – Avadim Technologies, Inc. (“Avadim”), the Bionome Therapies⢠life sciences company, announced today the engagement of ASGARD Partners & Co. (“ASGARD”), to provide strategic and capital markets advisory services to Avadim.* Based in New York, the partners at ASGARD have collectively arranged and advised on more than $50 billion in transactions and have proven expertise across a wide spectrum of advisory services. ASGARD brings multi–functional capabilities to its clients and enables them to navigate their capital and growth decisions effectively. ASGARD also helps negotiate directly with banks and investors on behalf of their clients.
Steve Woody, CEO of Avadim Technologies, stated, “We are pleased to have retained ASGARD as our advisor, whose management team's expertise and proven track record will assist Avadim in assessing various financial options surrounding our capital structure and other issues to leverage the substantial growth we are experiencing to maximize shareholder value. Our growth trajectory has positioned our Company to evaluate several strategic options including financing opportunities and an initial public offering in the future. We look forward to working closely with the entire ASGARD team going forward.”
“Avadim's technology platform and products could have a tremendous impact on the way people treat conditions resulting from disruptions in the topical microbiome or skin function. We look forward to working with Steve Woody and his team to help devise and execute a comprehensive capital markets strategy,” said Nicholas Desjardins, Head of Advisory Services at ASGARD.
For more information, visit http://avadimtechnologies.com
ABOUT AVADIM TECHNOLOGIES INC.
Based in Asheville, North Carolina, Avadim is the Bionome Therapies⢠life sciences company. Avadim has created a new health order by eradicating the existing “sick care” approach to deliver true “health care” through topical Bionome Therapies⢠engineered to restore the skin's natural ecosystem — each with the potential to dramatically enhance the quality of life for a lifetime. People are accepting of today's standard of care (get sick, treat & repeat) even though it's inadequate and few companies have stepped up to challenge this simply unacceptable approach that has been in existence for decades. Avadim is the industry leader in delivering true microbiome compliance with effective outcomes. Microbiome compliance ensures the therapy does not negatively effect the colonization of the skin's microorganisms that human beings depend on to stay alive.
ABOUT ASGARD PARTNERS & CO.
ASGARD is an advisory firm headquartered in New York. The firm provides strategic and financial advisory to, and makes private equity investments in, growth and middle–market companies. ASGARD believes that business is a powerful platform to change the world for the better and is committed to serving entrepreneurs and companies that share this belief. For more information about the firm, please visit https://asgardpartners.com.*
*All securities are offered through, Venture.co Brokerage Services LLC (“Venture.co”) Member: FINRA/SIPC. ASGARD Partners & Co. and Venture.co are independent and not affiliates. ASGARD Partners & Co., may be paid by Venture.co for technology, reporting, communications and administrative efforts; and several officers and employees of ASGARD Partners & Co. are registered representatives of Venture.co Brokerage Services LLC. ASGARD Partners & Co. officers and employees in their capacity as registered representatives of Venture.co Brokerage Services LLC may receive compensation from Venture.co as a result of brokerage related activity.
None of the aforementioned firms provide legal, tax or investment advice and is not authorized to do so. Information about any securities offering should not be considered complete and is qualified by the full offering documents corresponding to a particular project financing. This communication does not constitute an offer of, or the solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful. All communications by ASGARD Partners & Co. and Venture.co or any of its directors, officers, employees, representatives, affiliates or agents, are modified by the Terms of Use and Privacy Policy posted on the website at https://asgardpartners.com/ and http://Venture.co.
UPDATE – Socrata Welcomes Matt Miszewski as Senior VP of Sales
SEATTLE, WA—(Marketwired – Jun 16, 2017) – Socrata, the leading data–as–a–service platform for government organizations, welcomes Matt Miszewski as Senior Vice President (SVP) of Sales.
“As Socrata aggressively expands our cloud solution portfolio across a wide variety of public and employee–facing government data–driven programs, we are pleased to add Matt's deep expertise as a public sector technology leader to our executive team,” said Kevin Merritt, Socrata Founder and CEO. “In addition to serving the needs of governments as the leader of public sector focused solutions providers for a decade, Matt spent more than four years as a public servant — as State CIO — directly working to modernize and streamline the technology infrastructure in his state.”
Miszewski has led winning sales, marketing, and business teams for a decade. Miszewski holds a law degree from the University of Wisconsin Law School and a B.A. in Political Science and International Affairs from Marquette University. In his most recent role as SVP of Global Sales and Marketing for Digital Realty Trust, he reestablished market dominance and tripled shareholder value. Miszewski helped build the Global Public Sector Business Unit, establish the global account management program, expand into federal, state and local markets, and design the go–to–market strategy while SVP of Enterprise Sales & Public Sector at Salesforce. As General Manager of Microsoft's Worldwide Government practice he led a team serving central, local, and regional governments in 13 global regions driving double digit growth. Miszewski served for over four years as the state of Wisconsin's Chief Information Officer under Governor James “Jim” Doyle, where he established the first statewide Service Oriented Architecture, which significantly increased the agility of the state's technology infrastructure while saving more than $200M for Wisconsin taxpayers and enabling services such as the Wisconsin Justice Information Sharing system.
“I was searching for a way to put decades of revenue and technology experience to work for a larger mission, driving a technology vision that is positioned to solve important and challenging problems for people serving society,” said Matt Miszewski, Socrata SVP of Sales. “With its advanced data–as–a–service platform and a strong and experienced leadership team, I am thrilled to be helping Socrata's government clients resolve some of society's biggest and most intractable problems.”
About Socrata
Socrata is the market leader in making existing government data discoverable, usable, and actionable for government workers and the people they serve. Socrata provides a data–as–a–service platform and cloud applications exclusively for city, county, state, and federal government organizations. Socrata delivers unprecedented, data–driven innovation and cost–savings by bringing together disparate systems and leveraging the cloud to dramatically enhance the effectiveness of government programs, to improve quality of life for residents, positively impact local economies, and achieve excellence in government operations. Socrata solutions are designed and developed to meet strict government standards and is the first company of its size to achieve Federal Risk and Authorization Management Program (FedRAMP) Authority to Operate. The technology is optimized on the Amazon Web Services (AWS) Public Sector cloud and delivered using the exclusive Socrata Blueprint Methodology.
Capha Pharmaceuticals Announces Non-Brokered Private Placement
WEST KELOWNA, BC—(Marketwired – June 16, 2017) – CAPHA PHARMACEUTICALS INC. (“Capha” and/or the “Company”) announced today it is undertaking a non–brokered private placement to raise a minimum of $2 million through the sale of units of securities of the Company.
The units will be priced at $0.25 per unit with each unit consisting of one common share (a “Share”) and one non–transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional Share at a price of $0.50 for a period of 24 months from the date of closing.
The proceeds from the private placement will be used to satisfy the terms of the Letter of Intent with Patel Holdings Ltd. signed on June 7, 2017 and for general working capital purposes.
ON BEHALF OF THE BOARD OF DIRECTORS
“James R. Brown”
James R. Brown
Chairman & CEO
Franke, KWC Innovations Earn 2017 ADEX Awards for Design Excellence
SMYRNA, TN—(Marketwired – Jun 16, 2017) – Franke and KWC, Swiss companies and leading names in luxury products for the kitchen and bath, have received four 2017 ADEX (Awards for Design Excellence) commendations for superior product design and quality. Franke's Chef Center and 3–in–1 filter faucets received platinum awards in the Kitchen Ideas category. KWC's INTRO bath line received a platinum award and the PIANA bath line received a gold award in the Bathroom Ideas category.
“For over 100 years, Franke and KWC have encapsulated the excellence of Swiss design — from quality, to innovation, tradition and sustainability — into each product we manufacture,” said Tammy Nixon, Senior Brand Manager, Franke Kitchen Systems. “We are dedicated to creating innovative solutions that improve the kitchen and bathroom for every homeowner, and we thank the architect and design industry professionals whose votes uphold that our products remain top of the market.”
Franke and KWC Products Earning 2017 Platinum ADEX Awards include:
- Franke Chef Center – Franke's Chef Center features two versatile, anti–microbial compartments that can serve as a composter, wine bucket, storage bin, or any other purpose imaginable. Adding to its all–in–one appeal, the Chef Center also comes with an array of custom accessories, including a cutting board, colander, grid, mobile drainer board, push–button, remote–controlled–operated strainer basket and Franke's exclusive Roller Mat. Thoughtfully designed and engineered in Switzerland, the Chef Center's wide basin accommodates large pots and pans easily, and the sink reveal allows the custom accessories to lay flat on the sink ledge and slide easily from side to side. Handcrafted from premium–quality 18–gauge stainless steel, the Chef Center also features superior sound absorption to significantly reduce disposal and dishwashing noise.
- Franke 3–in–1 Faucet – Franke's 3–in–1 filter faucets produce hot, cold and filtered water all from one faucet. Plus, the faucets are compatible with Franke's new StillPure® Filtration System and smartphone app, which monitors usage of filtered water and reminds users when it's time to replace filters through a Bluetooth connection. Franke's 3–in–1 faucets are available in two different models. Both faucets are built with dual pipes and aerators to ensure that filtered water and tap water are never in contact.
- The Ambient 3–in–1 Filter Faucet, made of low lead brass and available in chrome and satin nickel, features a sleek, slim and modern design.
- The EOS 3–in–1 Filter Faucet, uniquely made of stainless steel both inside and out, is compatible with Franke's Fast–In Quick Install Sink System.
- KWC INTRO – KWC's INTRO, a collection of bathroom faucets, is distinguished by technological innovations such as a Neoperl® Caché® SSRE swiveling jet regulator, which allows consumers to change the direction and angle of the jet of water to suit their needs. The collection features a single lever faucet and a widespread faucet. It also features innovative, water spa technology including thermostatic and pressure balance valves that intuitively control water temperature and flow, and CoolFix® that only allows cold (as opposed to lukewarm) water to flow when the lever is in its central position, thereby drastically reducing hot water consumption. In addition, flow rates between 1.2 – 1.75 gallons per minute (gpm) ensure that KWC faucets help save water and protect the environment.
KWC's PIANA bathroom faucets won a 2017 Gold ADEX Award:
- KWC PIANA – KWC's PIANA, a collection of bathroom faucets, features an inclined–upward spout that provides extra space between the faucet and sink bowl. Its ergonomic lever design fits comfortably in the user's hand, and its swiveling or fixed spout makes cleaning easy. The faucet is complete with CoolFix® Technology, which allows cold (as opposed to lukewarm) water to flow when the lever is in its central position, thereby drastically reducing hot water consumption. Flow rates of 1.2 gpm help save water. PIANA is available in three single–lever designs: standard, vessel and widespread.
ADEX is the largest and most prestigious awards program for product design in the architecture and design industry. Judges award points in several categories for each entry, and total points earned determine each product's score: platinum, gold or silver.
More information on Franke's Chef Center, 3–in–1 faucets and additional kitchen faucets, sinks and waste disposers can be found at www.franke.us/ks. More information on KWC's PIANA, INTRO and additional faucets, shower systems and accessories can be found at us.kwc.com.
About Franke Group
Franke belongs to the Artemis Group and is a world–leading provider of solutions for residential kitchens and bathrooms, public washrooms, professional foodservice and coffee preparation. The Group operates worldwide and employs around 9,000 people in 40 countries. For more information, visit www.franke.us/ks.
About KWC
KWC is a leading supplier of luxury kitchen and bath faucets, shower systems and accessories in North America. For more than 140 years, KWC has defined Swiss Excellence and is proud to be the first faucet manufacturer in Switzerland to receive the ISO 9001 Quality Assurance Certificate. KWC faucets are still designed and manufactured in Switzerland, which is our guarantee of the expertise and skill of the workforce, the constant refinement of tried–and–tested technologies, and a consistently high–quality product. For more information, visit: us.kwc.com.
Tasty Fourth of July Recipes
MISSION, KS—(Marketwired – Jun 16, 2017) – (Family Features) Fireworks, family and food are what the Fourth of July is all about. Add some spark to backyard staples like grilled chicken and potato salad with a little help from tangy condiments, smoky rubs and your cast–iron skillet.
For a main dish that's sure to be a crowd pleaser, smother grilled chicken with a white barbecue sauce — the South's tangy little secret. Then round out the meal with a festive cake that looks as impressive as it tastes. Dye white cake mix batter red and blue using food color then assemble in a flag shape with whipped cream and berries.
Find more recipes and ideas to fire up your Fourth of July at McCormick.com.
| White Barbecue Sauce with Smoky Chicken | ||
| Prep time: 15 minutes | ||
| Cook time: 45 minutes | ||
| Servings: 6 | ||
| White Barbecue Sauce: | ||
| 1 | cup mayonnaise | |
| 1/2 | cup cider vinegar | |
| 2 | tablespoons Zatarain's Creole Mustard | |
| 1 | teaspoon prepared horseradish | |
| 1/2 | teaspoon McCormick Coarse Ground Black Pepper | |
| 1/2 | teaspoon McCormick Garlic Powder | |
| 1/4 | teaspoon salt | |
| Smoky Chicken: | ||
| 1 | cup hickory wood chips | |
| 2 | pounds bone–in chicken parts | |
| 2 | tablespoons McCormick Grill Mates Applewood Rub | |
To make sauce: In medium bowl, mix mayonnaise, vinegar, creole mustard, horseradish, black pepper, garlic and salt until well blended. Cover. Refrigerate at least 2 hours before serving to blend flavors.
To make chicken: Cover wood chips in water and soak 30 minutes. Season chicken with rub. Drain wood chips. Fill smoker box with wet wood chips. Place smoker box under grill rack on one side of grill before lighting. Close grill.
Prepare grill for indirect medium heat (350–375 F). Heat grill by turning all burners to medium. Once cooking temperature is reached, turn off burner(s) on one side. Place chicken on unlit side of grill. Close grill cover.
Grill, turning occasionally, 30–40 minutes, or until internal temperature of thickest part of chicken is 165 F. Move chicken to lit side of grill with skin side down. Turn lit side of grill to high.
Grill, uncovered, 3–5 minutes longer, or until chicken is charred. Serve chicken with White Barbecue Sauce.
Test Kitchen Tip: Refrigerate any leftover sauce and use as salad dressing, condiment for burgers or dipping sauce for pretzels and vegetables.
| Red, White and Blue Cake | ||
| Prep time: 25 minutes | ||
| Cook time: 30 minutes | ||
| Servings: 12 | ||
| 1 | package (2–layer size) white cake mix | |
| 2 | teaspoons McCormick Pure Vanilla Extract | |
| 1/2 | teaspoon Blue McCormick Assorted Neon Food Colors & Egg Dye | |
| 2 | tablespoons unsweetened cocoa powder | |
| 2 | teaspoons McCormick Red Food Color | |
| nonstick spray | ||
| 1 | container (16 ounces) white frosting | |
| 1 | cup raspberries | |
| 1/2 | cup blueberries | |
Heat oven to 350 F.
Prepare cake mix as directed on package, adding vanilla. Transfer 1 1/2 cups batter to small bowl and tint with neon blue food color. Tint remaining batter red by adding cocoa powder and red food color. Pour each color batter into separate 9–by–5–inch loaf pans sprayed with nonstick cooking spray.
Bake blue–tinted cake 20–25 minutes; red–tinted cake 30–35 minutes. Cool cakes in pans 10 minutes. Remove from pans; cool completely.
Trim cakes to remove rounded tops and edges. Slice red cake in half horizontally to form two thin layers. Place one layer on platter. Slice remaining red cake layer in half lengthwise. Slice blue cake in half lengthwise. (Blue and red cakes should be same dimensions.)
Frost red cake layer on platter with 1/3 frosting. Top with lengthwise slices of red and blue cake side–by–side. Frost with 1/3 frosting. Repeat cake layer and frosting. Garnish with raspberries and blueberries to resemble flag.
About Family Features Editorial Syndicate
Established in 1974, Family Features is a leading provider of free food and lifestyle content for print and online publications. Our articles, photos, videos and web content solutions save you time, money and help create advertising opportunities. Registration is fast and free — with absolutely no obligation. Visit editors.familyfeatures.com for more information.
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Eventbrite Research: Millennials Fuel the Experience Economy Amidst Political Uncertainty
SAN FRANCISCO, CA—(Marketwired – June 16, 2017) – Eventbrite, the world's largest event technology platform which powers nearly three million events around the globe each year, today released new research on how people are engaging with live events in a post–election America. Utilizing data sourced by global research firm, Ipsos, the research uncovered that while 84% of Americans believe live events can inspire positive change for the country, Millennials (ages 18–34), continue to be the driving force behind growing event attendance. Often referred to as the “experiences generation,” 9 out of 10 (89%) Millennials reported they had attended at least one live event within the past 12 months, up from 82% just three years ago.
Key Millennial insights from the research include:
- Experiences Still Trump Things. When deciding how to spend their money, 3 out of 4 Millennials would rather buy an experience than something desirable, a figure that is consistent with previous Eventbrite research.
- Attendance at Political Events is Increasing. More than a quarter (28%) of Millennials have attended a live event supporting a particular cause in the last year — compared to 15% of older generations — and 62% attend more cause–related events now than they did 10 years ago.
- Offline Interaction Promotes Positive Change. While Millennials rely heavily on technology, they are the strongest believers in face–to–face interaction to promote positive change: 3 in 4 (75%) feel that participating in or attending a live event (such as a march or demonstration) is more impactful than taking action online (e.g. signing a petition), compared to just 55% of those aged 35+.
- Live Events Foster Connection and Expand Perspective. Four in five (79%) Millennials report that attending live events makes them feel more connected to other people, the community, and the world — significantly up from 69% just three years ago — and 74% said that attending a live event has been more successful at expanding their perspective than just reading about something online.
- Social Capital Matters, Especially to Millennial Parents. Three in five (61%) Millennial parents admit to attending a live event so they have something to share on social channels (compared to 34% of Millennials without children), and 70% use social media to livestream or share their experience in the moment (compared to 47% of Millennials without children) on social channels like Facebook Live and Snapchat.
When considering the impact of the current political climate on live event attendance, the purchasing power of Millennials is key. Millennials are projected to spend upwards of $1.4 trillion in 20201, in addition to the $12 trillion “Great” and $30 trillion “Greater” wealth transfers they're expected to inherit from older generations in the coming decades2. Their continued preference to buy live experiences over things suggests enormous potential for the live events space — from concerts, to rallies, to festivals — in addition to the perception that events promote positive change for the country, connecting us in ways online platforms do not.
“Millennials are the largest living generation and their ever–increasing demand for live experiences is both exciting and encouraging for us, and for the hundreds of thousands of professional organizers that use Eventbrite,” said Tamara Mendelsohn, GM of Consumer, Eventbrite. “In addition to confirming that Millennials attend more events than any other generation, the research also uncovered the notion that the current political climate is driving a deep desire for Americans to connect with each other, their communities and the world, and that they see live events as an incredible way to do that.”
For more details, please review the full report — The Experience Movement: How Millennials are Bridging Cultural and Political Divides Offline — at www.eventbrite.com/l/millennialsreport–2017/
About the Survey
Report findings are from an Ipsos poll conducted April 11th – 16th, 2017, by Crowd DNA, on behalf of Eventbrite. For the survey, a sample of 2,012 adults aged 18+ from the United States was interviewed online, in English. The sample for this study was randomly drawn using Ipsos' online sampling methodology and post–hoc weights were made to the population characteristics on gender, age, region, race/ethnicity and income based on the 2016 Census ACS. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll has a credibility interval of plus or minus 2.5 percentage points for all respondents.
About Eventbrite
Eventbrite is the world's leading event technology platform. The company has processed $8 billion in gross ticket sales since inception and powers nearly three million events each year. Hundreds of thousands of organizers use Eventbrite to boost ticket sales, promote and manage events, handle onsite operations, and analyze results across multiple sales channels. Customers include Tribeca Film Festival, Newport Folk and Jazz Festivals, Maker Faire, Wanderlust, and many more. Eventbrite's capabilities are enhanced by Eventbrite Spectrum, the company's open API platform, which provides seamless access to more than 170 industry–leading technologies like Salesforce and Mailchimp. Additionally, over 50 million consumers use Eventbrite every year to discover a variety of live experiences and get tickets on a secure, easy–to–use platform. Founded in 2006, the company has 11 offices in 10 countries. Investors include Sequoia Capital, Tiger Global and T. Rowe Price. Learn more at www.eventbrite.com.
1Â Who Are The Millennial Shoppers? And What Do They Really Want?
2Â The Greater Wealth Transfer
WPT Industrial Real Estate Investment Trust Announces June 2017 Distribution
TORONTO, ON—(Marketwired – June 16, 2017) – WPT Industrial Real Estate Investment Trust (the “REIT“) (TSX: WIR.U) (OTCQX: WPTIF) announced today that its Board of Trustees has declared a cash distribution for the month of June 2017 of US$0.0633 per unit. The distribution will be payable on July 17, 2017 to unitholders of record as of the close of business on June 30, 2017.
Distributions paid to Canadian unitholders (and other non–U.S. unitholders) generally will be subject to U.S. withholding tax. For a general summary of the taxation of distributions paid to Canadian unitholders, including information regarding U.S. withholding tax, please see the “Certain Canadian Federal Income Tax Considerations”, “Certain U.S. Federal Income Tax Considerations” sections of the REIT's prospectus dated April 18, 2013, and “Risk Factors — Tax–Related Risks” in the REIT's annual information form for the year ended December 31, 2016, copies of which are available on the SEDAR website at www.sedar.com. Additional tax information regarding the REIT's distributions is also available on the REIT's website at www.wptreit.com. Unitholders should consult their own tax advisors for advice with respect to the tax consequences of receiving a distribution from the REIT in their own circumstances.
About WPT Industrial Real Estate Investment Trust
WPT Industrial Real Estate Investment Trust is an unincorporated, open–ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been formed to own and operate an institutional–quality portfolio of primarily industrial properties located in the United States, with a particular focus on warehouse and distribution industrial real estate. WPT Industrial, LP (the REIT's operating subsidiary) indirectly owns a portfolio of properties consisting of approximately 15.6 million square feet of gross leasable area, comprised of 47 industrial properties and two office properties located in 12 states within the United States.
American Portfolios Financial Services Finalizes TrustFort Acquisition to Further Develop its Proprietary Business Technology Platform
HOLBROOK, NY—(Marketwired – June 16, 2017) – American Portfolios (AP), a privately–held, independent broker/dealer that services financial advisors across the country, has officially acquired the intellectual property and developmental capabilities of TrustFort, a comprehensive IT solutions provider for the financial industry, in order to foster future strategic business initiatives that will benefit its family of investment professionals. One area within the financial services industry experiencing rapid growth is in fee–based advisory services, for which TrustFort has been instrumental in enhancing AP's proprietary business technology platforms to support this much–in–demand business.
“This technology acquisition enables us to operate according to an entirely new standard of excellence,” CEO Lon T. Dolber says of the exclusive arrangement with TrustFort. “Our proprietary advisory technology platform, Portfolio Insight, benefits investment professionals who conduct fee–based business by allowing them to tailor their back offices and create operational efficiencies that afford them more time strengthening and forging existing and new client relationships. Portfolio Insight is positioned to transform the back offices of our affiliated financial advisors into highly functional, serviceable and profitable businesses, which will continue to keep them, as well as AP, competitively strong.”
Garnering a great deal of focus and lauded by many as the inevitable emphasis of how business in the future will be conducted, fee–based advisory provides investment professionals with a recurring revenue stream and brings a fiduciary responsibility to the advisor–client relationship, resulting in both parties becoming invested in the success of a portfolio. “With the industry moving more and more toward a fiduciary standard, the need exists for us to create and build upon the necessary technology to accommodate that type of business model,” elaborates Gary Gordon, president of American Portfolios Advisors, Inc. (APA), the firm's Registered Investment Advisor (RIA). “We occupy a very important and tactical position within the financial advisor chain, as we're the closet service provider to the advisor. Therefore, we must leverage our unique position and provide our advisors with the most compelling advisory platform. This is why we have devoted the time and resources into developing Portfolio Insight with the needs of our clients — and the end–clients — in mind.”
AP's relationship with TrustFort stems back to 2014, when the IT solutions provider's highly–developed Portfolio Insight software was integrated into American Portfolios' Nine Points Advisory Services Platform, including its advisor– and institutionally–managed programs, as well as Nine Points Investment Management (NPIM) — comprised of research, due diligence, product support and in–house model management. The TrustFort and Nine Points initiatives are part of providing a leading advisory platform created for the firm's affiliated investment advisor representatives (IARs), with which the firm has two objectives: 1) a differentiated offering to expand IAR adoption of the platform, and 2) to provide IARs more products and solutions for their clients via the platform. Among the various goals hinged to this initiative is to expand Portfolio Insight's user base in order to provide a larger marketplace for the firm to create and offer other profitable solutions.
In 2015, American Portfolios Holdings, Inc. (APH) formed the limited liability company, American Portfolios Advisory Solutions, LLC (APAS), to partner with TrustFort. The primary purpose of APAS is to develop and control the intellectual property with respect to an Internet–based wealth management software solution, and provide assistance to APA by developing and utilizing a comprehensive advisory management tool. As a result of combining the technical, platform management and operations teams (which operate out of AP headquarters in conjunction with affiliated operations and development team members located in India through the acquisition), the firm was able to address new capabilities and scale up technology and processes to better serve its customers — affiliated financial professionals — and the end investor in new and better ways. “The acquisition has brought in not just an advisory platform, but also a team of dedicated technology and operations professionals, which when combined with the professionals AP already has in place, is allowing us to accelerate the introduction of new platform capabilities to make our advisors' day–to–day business more efficient,” imparts Atindra Barua, APH board member and former president and CEO of TrustFort.
Since the acquisition, the firm has made considerable inroads providing existing and prospective advisors of AP with an industry–leading advisory services platform. The platform can support outside RIAs, in addition to those investment professionals who choose to conduct business with APA, offering affiliated colleagues the freedom and independence to operate their businesses with more ease and on their own terms.
These strides are in keeping with one of the firm's commitments toward greater platform and technology independence. AP's Portfolio Insight advisory technology platform is rapidly changing the way the firm's advisors conduct business. The platform includes a robust model management and rebalancing tool, which allows advisors to create and manage their own model portfolios. Other functions include a fee detail summary, which automatically totals fees calculated and collected in a selected time period; locking and holding positions within an account or a model; a cash buffer for accounts; and the ability to map an existing position or holding to another. New features forecasted for the coming months include an improved onboarding process for new advisors, a client portal for communicating more effectively and efficiently with customers, an upgrade to the firm's existing operating platforms and providing an integrated platform for advisors to manage their business regardless of where assets reside. Platform enhancements are made on a consistent basis, increasingly building upon the overall functionality and user–friendliness of the tool to the utmost benefit of AP's affiliated advisors.
About American Portfolios
Headquartered in Holbrook, N.Y., American Portfolios Financial Services, Inc. (APFS) is a full–service, independent broker/dealer and member firm of FINRA and SIPC, offering a complete range of financial services, including personal financial and retirement planning, securities trading, mutual funds, access to investment research, long–term care planning, insurance products and tax–free investing. Fee–based asset management is offered through its sister subsidiary, American Portfolios Advisors, Inc., (APA), an SEC Registered Investment Advisor. Both entities, along with technology entity American Portfolios Advisory Solutions, LLC, collectively reside under the legal entity American Portfolios Holdings, Inc. (APH). Full–service securities brokerage is available through a clearing firm relationship with Pershing, LLC, a BNY Mellon firm, the securities of which are held on a fully disclosed basis. The company currently serves 800 independent investment professionals located in 365 branch locations throughout the nation. It was named Broker–Dealer of the Year* (Division III) by Investment Advisor magazine in 2015 and 2016, as well as one of the top five Best Small/Mid–Size Company to Work for in the state of New York for 2016 and 2017 by the New York State Society for Human Resources Management (NYS–SHRM) and the Best Companies Group (BCG).
*Based on a poll of registered representatives conducted by Investment Advisor magazine. Broker/dealers rated highest by their representatives are awarded “Broker/Dealer (B/D) of the Year.”
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