David A. Stone founded First Rate® in 1991 with a vision of enhancing investment accounting systems through simplified performance analysis tools. First Rate’s initial rate of return calculation software integrated seamlessly with any system, and set the bar for the company’s commitment to provide a higher level of performance measurement.
By 1993, we set a new industry standard by launching one of the first PC-based rate of return calculation engines within several large, domestic custody banks. From this groundbreaking endeavor, the First Rate Performance Suite® was born. We continued to take performance measurement to new levels when we unveiled the first commercially available, Web-based performance reporting software in 1997: First Rate SnapShot.
By 2004, First Rate evolved SnapShot into First Rate Advisor®, a new version that dramatically increased the Web-based functionality of First Rate Snapshot and addressed the specific needs of the investment advisor audience. Today, First Rate Performance Suite helps users better calculate accurate, transaction-based rates of return, gain confidence in the accuracy of the data and generate customized, high quality presentations in just a few mouse clicks.
Today, with an extensive client list of wealth management firms ranging in size from a few hundred portfolios to several hundred thousand, we still maintain Mr. Stone’s vision of setting higher standards for performance measurement solutions.