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SunGard launches managed accounts solution for wealth advisers


News came this week that SunGard has expanded into the managed accounts business with the launch of an integrated managed investment solution. Scott Parry (pictured), EVP & general manager at SunGard in the US explains that demand lay behind the decision to launch this product. 

“The big reason is that clients are asking for it – they are subscribing to these types of programmes and SunGard is in a great position to deliver these types of solutions to our clients," says Parry.

The new offering is aimed at wealth advisers and financial institutions – including bank and trust organisations, broker-dealers, and registered investment advisors who need to be able to manage their clients’ assets in a real time environment.

And managed accounts are on the increase. A five year forecast from Money Management Institute’s sponsor firm members projects a 14 per cent compound annual growth rate in managed solutions assets and a near doubling of industry assets by 2018. 

While managed account platforms can provide advisers with a tailored, automated financial strategy using a centralised back-office operations platform to meet business goals, many advisers are not confident in their platform’s ability to meet all their needs.

“Because each product offering is typically supported by its own back-office platform, it becomes difficult for wealth managers to integrate data feeds and maintain consistency. In fact, only a small fraction of advisors have access to all client assets, including those held away. Managed account platforms are moving towards integrating the back-office functions for each product into one solution to meet the need to handle large data volumes from multiple sources. In a 2014 CEB technology spending survey, more wealth technology executives said they intend to adopt or replace their current managed account platform than any other operations technology,” says CEB TowerGroup research director, Peter Delano.

The SunGard solution combines Sawtooth Asset Management’s open architecture investment and practice management capabilities with SunGard’s wealth management, transaction processing and trading connectivity solutions to provide a customised wealth management solution in a managed services environment. 

Parry explains that the new product is integrated across SunGard’s Charlotte, AddVantage, and Global Plus trust accounting solutions and several leading traditional fully-disclosed custodians, combined with outsourced middle- and back-office functions, help advisers improve margins, spend more time with their clients, and become more competitive.

The new offering went live with Union Bank & Trust earlier this week. Parry says: “It matches up the access to new and innovative money management capabilities of any type from alternative to traditional managers and allows the adviser a more sophisticated way to build out the portfolios of their clients and manage them on an ongoing basis.

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