Capital Advisors has converted its managed accounts portfolios to run on the CheckFree APL recordkeeping system. The move was made as part of an effort to streamline operations of its separately managed account business, explained Richard S. Lofgren, vice president and portfolio manager at Tulsa, Oklahoma-based Capital Advisors.

Lofgren said that the scalability of the APL system and its ability to interface with the bulk of the 15 custodians Capital Advisors works with as well as its trading tools were keys reasons for why APL was chosen.

"If you are serious in managed accounts, you either start with APL or buy it later," said Lofgren. The CheckFree APL recordkeeping and reporting software is offered by CheckFree Investment Services and is the most widely used in the managed accounts industry.

Roughly 1,000 portfolios at Capital Advisors are being converted to CheckFree APL from its previous platform provider, which Lofgren declined to identify.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE