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New Patent Reinforces PriceMetrix Leadership in Pricing Technology(December 20, 2011)
TORONTO, ONTARIO -- (Marketwire) -- 12/20/11 -- PriceMetrix Inc., the leader in practice intelligence solutions for retail brokerages in North America, was recently granted a patent for its methodology for calculating a reference price. Until now, there has been no source by which Wealth Management firms and their Financial Advisors can assess the market value of their services. PriceMetrix fills this void by providing a reference price methodology for fee-based and transactional accounts.
The newly patented 'Reference Price Framework' is a method of price modelling that takes into account the actual prices charged for similar products, by similar sellers, for clients with similar characteristics.
This powerful algorithm forms the core of the pricing module within the PriceMetrix ValueOne solution, a subscription-based practice intelligence solution that delivers business intelligence regarding investment advisor practices, productivity and relative performance, as well as firm-wide benchmarking against industry metrics.
Doug Trott, President and CEO of PriceMetrix commented, "At PriceMetrix, we continually invest in the research and development of innovative methods and technologies that support the growth of our clients and enhance their practice management effectiveness. Our latest patent enables retail brokerage firms to offer the benefits of reference pricing to their financial advisors, while minimizing the risk of overcharging or over-discounting fees."
A meaningful and reliable reference price gives an advisor a clear market-based structure to determine if their advice is priced above or below comparable services.
"Applications which use our patented Reference Price Framework provide their users with a clear picture of their pricing effectiveness," said Patrick Kennedy, cofounder and Vice President, Product and Client Management at PriceMetrix. "It can be measured in aggregate at the salesperson or firm level, all the way down to the transaction level."
ValueOne and other PriceMetrix tools are fueled by rich, normalized and aggregated data representing 3.2 million investors, 500 million transactions, 1 million fee-based accounts, 4 million transactional accounts and over $900 billion in investment assets. For more information about PriceMetrix and its solutions, please visit www.pricemetrix.com.
PriceMetrix is the first choice in practice intelligence solutions for retail brokerages in North America. We help wealth management firms enhance revenue growth, by enabling advisors to identify and action otherwise lost revenue opportunities. By combining industry know-how with powerful aggregated market data, we help our clients increase overall firm profitability.
PriceMetrix directly measures aggregated data representing 3.2 million investors, 500 million transactions, 1 million fee-based accounts, 4 million transactional accounts and over $900 billion in investment assets. PriceMetrix combines its patented process for collecting and classifying data with proprietary measures of revenue, assets, and households to create the most insightful and granular retail wealth management database available today.
Founded in 2000 and headquartered in Toronto, Ontario, we service a notable range of retail wealth management firms within the United States and Canada. To learn about why our clients love us, please visit www.pricemetrix.com or call and email us at 1-866-955-0514 and firstname.lastname@example.org.
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