Quasar Distributors is in the process of replacing its Fact Sheet Source system with a third-party system called ProofPlus. Quasar's marketing clients will begin using the new system this year.

"It's more cost-effective to partner rather than build it ourselves," said Quasar president Jim Schoenike in a recent interview with The MFWire.com.

Milwaukee-based Quasar linked up with ProofPlus creator Publishing Data Management. The system simplifies the process of creating fact sheets.

In other Quasar news, the US Bancorp subsidiary recently celebrated its 10th anniversary in the business. It was granted membership to Finra, then known as NASD, on June 16, 2000.

Quasar currently distributes 550 funds from 130 fund families, making it the largest third-party distributor of mutual funds.

The firm provides sub-distribution for 22 fund groups and does marketing work for 35 fund families. It sponsors more than 100 fund clients on NSCC's FundServ and represents more than three percent of the industry's Finra advertising and marketing material annual volume.

Quasar has 18 employees, five of whom are in the advertising group. 

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