Partnership Provides Institutional Investors Access to World-Class Recovery Services
BOSTON, MA, JUNE 9, 2015 – Financial Recovery Technologies LLC (FRT), a leader in securities class action settlement recovery, today announced a partnership with Innovest, a provider of next-generation technology and services for forward-thinking financial professionals, to provide FRT's best-in-class claim filing services to Innovest's institutional clients. Utilizing proprietary technology and processes backed by state-of-the-art data security, FRT identifies eligibility, files claims and collects funds made available in securities class action settlements. The partnership with Innovest will provide its clients the most comprehensive range of securities litigation monitoring and claim filing services, including complete eligibility analysis, disbursement auditing and client reporting.
Accurately addressing securities litigation and the resulting class action settlements has become increasingly difficult in recent years. Class action settlements are more complex than they used to be, especially in the wake of the financial and credit crises in the early 2000's. Firms must take a much more specialized approach in order to maximize recoveries from settlements while meeting their fiduciary responsibility to clients and shareholders.
"In our review of Financial Recovery Technologies, we found them to be accountable and transparent in servicing their clients. At Innovest, we feel that FRT will deliver a high level of service to our own clients and will provide the most efficient solutions to help them address their securities class action needs," said Gretchen Goode, Senior Vice President of Marketing at Innovest. "We're confident that our valued clients are in good hands with FRT."
"We are pleased to partner with Innovest and look forward to servicing their trust and wealth management clients. Innovest is committed to the mindset of being forward-thinking, to which we at FRT can relate," said Rob Adler, President of FRT. "We're excited to introduce this partnership and to provide our comprehensive solution to Innovest clients."
About Financial Recovery Technologies
Financial Recovery Technologies (FRT) is a technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. Financial Recovery Technologies is a Cross Country Group company (www.crosscountrygroup.com). For more information, go to www.frtservices.com.
Innovest is a leading provider of financial technology solutions delivered to forward-thinking trust, wealth management, and retirement professionals. Innovest's solutions empower its clients to acquire new customers, invest assets effectively, manage trust and investment portfolios efficiently, and flexibly report results to customers. Innovest has over $425 billion in assets under administration on its trust and wealth management platform, processes more than 4 million payments annually and provides fulfillment services for more than 10 million documents including checks, advices, and tax forms each year. Innovest's wholly owned subsidiary, FinTech Securities, executes over 69 million equity shares annually. For more information about Innovest, visit www.innovestsystems.com.