FOR IMMEDIATE RELEASE
Global Relay Acquires MarketCounsel’s Electronic Messaging Business
Consulting Firm Exits Email Space to Focus Efforts on Solving
Complex Business Challenges Faced by Advisors
New York, NY and Englewood, NJ –September 12, 2012– MarketCounsel, a leading provider of comprehensive business and regulatory consulting services to independent registered investment advisors, today announced that it has agreed to transition MailBanc, its electronic messaging compliance division, to Global Relay, the leading provider of cloud-based electronic messaging compliance solutions for investment advisors and broker-dealers. The financial terms of the deal were not disclosed.
“When we launched MailBanc in 2007, it was in response to the frustrations we heard from small to mid-sized advisors who were unable to find a compliance technology platform to meet their specific needs. At that time, the available solutions were either robust platforms that were well beyond their budget or underpowered technology that did not adequately address their compliance needs,” said Marc Cohen, MarketCounsel’s Director of Operations. “Since then, however, other providers’ offerings have matured to fill that gap and we no longer feel as though there is a need for us to remain in the space. We would much rather prefer to focus our efforts in areas where we can bring value that others cannot.”
By exiting the electronic messaging market, MarketCounsel intends to refocus its resources on developing innovative solutions to the complex business challenges faced by investment advisors through its RIA Incubator® start-up program and the RIA Institute® ongoing consulting platform. MarketCounsel will also maintain influence in the electronic messaging space, as its compliance experts will serve as a trusted partner and compliance resource for Global Relay, working with their platform development team to adapt Global Relay’s compliance archiving and messaging solutions to the evolving regulatory landscape.
“This development is the latest sign of our commitment to the evolving needs of our clients and is in line with MarketCounsel’s mission of delivering trusted counsel and innovative solutions to the complex business challenges faced by independent investment advisors,” said Brian Hamburger, the firm’s Founder and Managing Director. “Prior to launching MailBanc in 2007, we narrowly avoided a partnership with Global Relay as we had identified them as the most comprehensive solution at that time. We launched MailBanc to offer an impressive array of services at a more attractive price point. Now we are pleased, after several years, to be able to bring it all together and allow us to get back to what we do best: developing simple solutions to the complex business challenges faced by entrepreneurial investment advisers.”
“We are honored that MarketCounsel selected Global Relay for their prestigious client base. Our strong presence in the financial sector and expertise in helping RIAs comply with SEC message archiving, supervision and eDiscovery requirements are a perfect match for the needs of the MarketCounsel network of clients,” said Shannon Rogers, Global Relay President & General Counsel. “These clients will benefit extensively from our compliant archiving and messaging services, including some of our latest developments such as social media archiving and mobile apps for iPhone, iPad, BlackBerry and Android. The synergies between MarketCounsel and Global Relay made this arrangement a natural fit, and we look forward to building upon these relationships as we work with MarketCounsel in the years to come.”
For more information, please contact Nicole Abbott at 973-850-7315 or email@example.com.
MarketCounsel is the leading business and regulatory compliance consulting firm to the country’s preeminent entrepreneurial, independent investment advisors. Our comprehensive service offering delivers sound business solutions in the areas advisors find most challenging: regulatory compliance and practice management. The firm brings together some of the industry’s best and brightest talent, an oversized investment in technology, a rigid emphasis on business process and continuous improvement, a vision for the future of the business of independent investment advice and wraps it all in an amazing culture that unleashes our people to be passionate about our clients’ success.
Whether it’s the launch of a new investment advisor through the RIA Incubator program to the leveraged solutions of the RIA Institute, MarketCounsel’s service platform consistently delivers on the promise of extraordinary service and trusted counsel to meet, anticipate and exceed the needs of our exacting clients.
About Global Relay
Global Relay is the leading provider of cloud-based message archiving, search, and surveillance solutions for investment advisors and the financial services industry. Global Relay Archive securely captures and preserves email, instant messaging, BlackBerry, Bloomberg, Thomson Reuters, Twitter, LinkedIn, Facebook and more — with BlackBerry, iPhone, iPad, Android, Outlook and web access. Global Relay’s 16,000+ customers in 90 countries include investment advisors, broker-dealers, hedge funds and public companies, as well as 22 of the top 25 global banks. Global Relay has strategic partnerships worldwide, including a global Strategic Partnership with Thomson Reuters for compliance archiving.
For more information about Global Relay, please visit www.globalrelay.com, email firstname.lastname@example.org or call 866.484.6630.