maller fund shops seeking Internet solutions for wholesaling have a new source. Two Boston-based firms, Bridgeline Software
and The Drachman Group
, have partnered to fill what they see as a need in the niche.
, founder of the Drachman Group, told the MutualFundWire.com that the firm's see a need for solutions among small fund groups that do not have the resources to create their own offerings for advisors. He admits that most of the fifty largest firms have already made significant efforts to fill this need.
"A lot of firm's had plans for these sites in the works before 2000, but no longer have the resources to finish the effort," explained Drachman. "This is exactly the type of project where it costs less to outsource the work."
Bridgeline brings the technical expertise to the partnership, while Drachman brings a background in financial services marketing and in working with intermediaries.
The firms are still seeking their first client for these services. Drachman provides marketing communications consulting to InTrust Bank's NestEgg Funds (Wichita Kansas and Bank of Hawaii's Pacific Capital Funds (Honolulu).
Drachman revealed that the partners have started talks with one insurance company interested in the service, but he declined to reveal its name.
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