SunGard has launched a Software-as-a-Service (SaaS) version of its WealthStation wealth management platform. WealthStation's SaaS offering allows advisers to access on demand by credit card, more than 60 financial planning modules, including SunGard's asset allocation software, and automatically receive upgrades with disaster recovery backup. In addition to asset allocation, WealthStation offers client management, financial planning, investment management, data aggregation, trading, rebalancing, reporting, client access and compliance tools.
Many experienced advisors are departing traditional banks and brokerage firms to start their own independent advisory practices. There is also a growing demand for advisory services as investors seek guidance from investment professionals. These trends are leading to a greater need for quickly deployed adviser solutions. Kevin Rafferty, president of SunGard's wealth management business, said, "It is more important than ever for advisers to be agile in their service offerings and dedicate more time to acquiring, retaining and serving clients. Utilizing SunGard's SaaS framework, WealthStation provides the technology and tools that advisors need to plan and execute investment strategies for their clients in an on-demand environment, without requiring a large capital expenditure."