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Eastern Investment launches managed account platform with FundQuest

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Eastern Investment Advisors has partnered with FundQuest to launch a managed account platform to expand the services offered to its investor clients.

Eastern Investment Advisors has partnered with FundQuest to launch a managed account platform to expand the services offered to its investor clients.

FundQuest, a provider of managed account solutions, supports financial advisers with technology-based productivity tools, investment due-diligence, back-office operations, and reporting services.

EIA, which oversees USD1.5bn, is a wholly-owned subsidiary of Boston-based Eastern Bank.

EIA will use a customized managed account platform developed by FundQuest. Services will be offered to investor clients through Eastern Bank offices and may also be provided through other banks.

Financial advisers at Eastern Bank will use the new platform to provide their high net worth clients with EIA’s managed mutual fund and ETF models.

‘Both our advisers and high net worth clients will benefit from the features of our new customized technology and the quality of FundQuest’s back-office services,’ says George Zydel, vice president at Eastern Investment Advisors.

David Root, vice president, institutional sales at FundQuest, adds: ‘Eastern Bank’s advisors have new capabilities to increase the efficiency and responsiveness of their personalized portfolio services. For example, FundQuest’s web-based diagnostic tool enables advisors to analyze an investor’s current portfolio versus an optimal portfolio which is based on an up-to-date investor profile.’

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