Smartleaf celebrated its 10th anniversary in 2009 with the highest revenue and growth in its history. Some key milestones:
- Smartleaf and our clients enter our seventh year of production with a perfect record of 100% success–100% of Smartleaf implementations have been successful and 100% of our deliverables have been on time.
Gerard Michael, Smartleaf’s President, comments that “Smartleaf set out ten years ago to make it easy for wealth management firms to make their offerings more efficient, consistent and customized. We took a fresh approach to this problem, and our clients have benefited—Smartleaf implementations have always been successful.”
- BB&T implemented a full conversion of its wealth management to an overlay-based program based on the Smartleaf platform. BB&T chose to buck the trend in the wealth management and invest in new systems and capabilities in the midst of a financial downturn.
- A regional bank signed with Smartleaf following an unsuccessful implementation with another vendor.Gerard Michael notes, “our client was able to leverage its previous experience with a failed overlay implementation to create the most comprehensive due diligence process we’ve seen. We are especially pleased to have been selected in these circumstances.”
- Smartleaf released “Version 3.0” of our software.Mark Nitzberg, Smartleaf’s CTO, comments that “In Version 3.0, we refreshed the look and feel of the application from top to bottom, relying on in-depth client interviews and feedback at every step of the way. At the same time, we installed a completely new foundation layer that will let us make future enhancements for clients in a fraction of the time it would have taken before.”
- Smartleaf clients continued to use Smartleaf in innovative ways. These include
- Converting mutual fund wrap clients to UMA, saving the clients approximately 60 bps in net fees.
- Banks acting as the outsourced overlay manager for sister broker/dealer organizations.
Bob McKinley, Smartleaf head of client services, notes that “the Smartleaf system is very flexible in how it’s deployed. We see, often within the same organization, Smartleaf used both to support centralized trading groups and distributed use by individual PM”s in the field”.
Smartleaf welcomed John Kim to its board of directors as Chairman.
John started his career as a consultant for McKinsey and Company, where he advised several of the nation’s largest wealth management firms. He has served as the Chairman and CEO of a 300+ person software company where he expanded its operations to Europe and China, oversaw its North American Operations and Japanese Joint Venture; he also served as Corporate Senior Vice President of one of the largest publicly listed multi-national Japanese internet companies listed on JASDAQ. John has served and currently serves on numerous corporate and non-profit boards. He is currently the CEO of the District Management Counsel, which provides innovative consulting and software services to school districts. John has a BA and an MBA from Harvard.