FRT Background Information
Financial Recovery Technologies (FRT) is a Boston-based company serving the investment management community with a specialization in class action settlement recovery. The firm is dedicated to the recovery of client funds through a proprietary technology platform and expert processes.
Established in 2008, the firm is part of the Cross Country Group. The Cross Country Group and its member companies provide technology-enabled service programs across a broad spectrum of industries, including automotive, insurance, and financial services. Its companies serve a variety of corporate clients who have more than 75 million customers.
Financial Recovery Technologies brings together accomplished veterans in the areas of technology solutions, investment management, and financial leadership to meet the claims recovery needs of the investment management community. Its principals include financial consultants, information technology experts, and entrepreneurs in the financial services and investment management fields. The firm brings a wealth of financial experience and industry relationships to every client engagement. The company’s services include expertise in eligibility analysis, claims filing, disbursement auditing and client reporting. With more than $100 million in total recoveries to date, Financial Recovery Technologies provides a turnkey solution that allows its clients to fulfill their fiduciary responsibilities with transparency and accuracy.
Financial Recovery Technologies’ success is a result of a combination of its proprietary, advanced technology and exceptional client service. Serving as a strategic partner to its institutional investor clients, FRT provides a turnkey solution to solving the lengthy and complex recovery process resulting from securities class action settlements. With investor activism on the rise, recovering available funds for clients has become even more critical than in the past.
The firm also has extensive professional experience and insight into the complexity of filing for and securing settlement funds in the international market. FRT has the unparalleled depth and breadth of knowledge to deal with both U.S. and non-U.S. suits including opt-in class actions and collective actions. No other class action recovery provider can match FRT’s experience and insight into the growing complexity of the global class action market.
FRT Fact Sheet
Financial Recovery Technologies (FRT) is a Boston-based technology company serving the investment community in class action settlement recovery. With more than $100 million in total recoveries for clients since its inception, the firm is dedicated to automating and streamlining the claims recovery process for hedge funds, asset managers, wealth management firms, sovereign wealth funds, and banks from initial data collection to final disbursement of settlement funds. The firm brings together accomplished veterans in the areas of technology solutions, investment management, and financial leadership to provide a turnkey solution to identify client eligibility, file claims, and collect funds for a broad spectrum of the investment community. FRT partners with clients to help them efficiently recover all the funds to which they are entitled.
Established: Boston, Massachusetts in 2008
FRT is a Cross Country Group (CCG) company. Founded in 1972 and privately held, CCG and its member companies provide technology-enabled service programs across a broad spectrum of industries, including automotive, insurance, and financial services. CCG’s companies serve hundreds of corporate clients and 75 million customers each year.
Services: Using an advanced technology platform, expert processes, and experienced professionals, FRT identifies all eligible security positions, precisely calculates recognized loss, and handles payment, disbursement auditing and client reporting.
Identification: Using a proprietary database, FRT performs comprehensive searches from a variety of sources to identify all eligible domestic and international security class action suits for its clients.
Analysis & Matching: The trading history for each client is matched to the case parameters to accurately calculate recognized loss. Filings with incorrect data are routinely rejected by claims administrators, and FRT’s quality assurance makes sure that the data is correct.
Filing: Because client filings must reflect the exact specifications of each settlement’s allocation plan, FRT’s relationship with a broad range of claims administrators not only facilitates accurate and timely filings, but also eases dispute resolution if necessary.
Allocation & Reporting: FRT manages the settlement funds from allocation to distribution. Compliance, escrow, bank transfers, and more are all managed by FRT with supporting detailed settlement analysis and reports.
Target Customer: A myriad of investment community advisors including hedge funds, pension funds, endowment funds, sovereign wealth funds, banks, and asset managers.
Key Differentiators: Financial Recovery Technologies is a comprehensive full-service firm that focuses exclusively on recovering funds from securities class action settlements for clients in the investment community. FRT has made significant investments in technology to automate back-end processes, such as claims identification, filing, and recovery. Through its proprietary technology platform, FRT is able to recover more for investors than they typically could recover on their own. Additionally, the firm has extensive professional experience and insight into the complexity of filing for and securing settlements in the international market.
FRT has the unparalleled depth and breadth of knowledge to deal with both U.S. and non-U.S. suits including opt-in class actions and collective actions. No other class action recovery provider can match FRT’s experience and insight into the growing complexity of the global class action market. Outsourcing to FRT not only minimizes operational and administration overhead for investment managers, but maximizes their recovery of funds.
Team Members: 55
200 Rivers Edge Dr
Medford, MA 02155
Robert I. Adler – President
Robert I. Adler has served as the President of Financial Recovery Technologies since early 2012. Adler oversees a team of financial and technology experts that provide a turnkey solution to recovering funds for institutional investors made available in securities class action settlements, both domestic and international.
Previously, Adler co-founded CCBN and served as its president from the company’s inception in 1997 until its sale to Thomson Reuters in 2004. CCBN was a pioneer in enabling communications over the web between public companies and the investment community. Through its IR website and webcasting services CCBN transformed how companies share information with their shareholders, and its StreetEvents product offering, including real-time, full-text transcripts of quarterly earnings calls, dramatically improved the day-to-day productivity of Wall Street analysts and portfolio managers.
An inveterate entrepreneur, Adler has founded and led a number of technology companies outside of financial services as well, including WordStream, go2 Media, and DigiTrace Care Services (aka SleepMed). He also serves as an advisor to a number of Boston-based early stage companies including HRM Direct, Finalta, Custom Made, and OpenExchange Communications.
Adler graduated with a Bachelor’s of Arts from Brown University and a Master’s of Business Administration from Harvard University where he was a Baker Scholar. He currently serves as an Adjunct Professor in the Arthur M. Blank Center for Entrepreneurship at Babson College. He also serves on the Jimmy Fund Visiting Committee at the Dana-Farber Cancer Institute.
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