Private Client Resources (PCR) acquires European Data Aggregation Firm Check6
Acquisition expands PCR’s global capabilities with new European data sources and experienced data operations teams.
NEW YORK December 7, 2020. Private Client Resources, LLC (PCR) today announced finalization of its acquisition of the European data aggregation firm Check6, headquartered in The Netherlands.
Bob Miller, CEO of PCR, said, “We are very excited to partner with the Check6 team in expanding our European presence. They have done a great job connecting to the major European institutions and provide instant fulsome European data source coverage for the PCR network.”
The market for global investment data aggregation is growing. Wealth management firms around the world are working to implement digital technologies they hope will modernize their processes and enhance their clients’ experience. Critical to the success of these initiatives is a reliable source of accurate client investment data. In cases where a client’s portfolio is comprised of a complex mixture of globally distributed liquid and illiquid assets the challenge to consolidated reporting is often significant.
Thomas Uger, Partner at Public Pension Capital, said, “PCR is ideally positioned to provide global firms the investment data they need to power their digital initiatives. We were pleased to have the opportunity to again support management’s expansion plans with this acquisition and look forward to exploring other future growth opportunities.”
The companies have already completed integration of their technologies and are serving customers on a global basis. Check6 employees will become an integral component of the PCR service model delivering in time-zone support, training and data operations.
Sebastian Verkuilen, Founder and CEO of Check6 said, “PCR was an obvious partner for us to roll data aggregation services out globally. The companies share a common vision of the importance of data and a similar technological, privacy-first approach to data aggregation. PCR has solved for the core challenges to complex aggregation including automated aggregation of alternative assets and privacy management at scale. For Check6 stakeholders, the opportunity to partner in developing a one-of-a-kind global aggregation provider was too compelling to pass up.”
PCR has introduced numerous innovations to the aggregation process including digital consent technology that eliminates credential sharing and screen scraping, the ability to automate the aggregation of illiquid statement-based assets and a unique privacy architecture that ensures personal information is handled in compliance with global privacy regulations. As a result of the acquisition PCR will have data feed connections with over 600+ global institutional sources. Combined with their ability to automate the aggregation of alternatives, PCR is uniquely positioned to serve private clients and their advisors on a global scale.
Bob Miller, CEO of PCR, said, “This acquisition is a natural and important step in fulfilling our vision of a safe and scalable global investment data utility. Through our partnerships with major wealth tech providers and other possible acquisitions, we are looking at opportunities in Asia and other regions important to our global clients.”
About Private Client Resources (PCR).
PCR provides institutions, advisors, family offices, pensions, foundations, OCIO’s and technology providers an easily implemented data-utility that streamlines how data on hard-to-aggregate client assets are managed. In doing so we are driving wealth management innovation allowing firms to invest in their next great idea - not collecting, normalizing and reconciling data. PCR aggregates hundreds of billions in assets for hundreds of global clients in the US, Europe and Canada.
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Check6 provides feed-based aggregation services leveraging one of the largest custodial feed networks in the region. The service is used by a range of institutions, wealthy families and advisors.
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