SunTrust Banks will use a portfolio-processing and accounting system from Oaks, Pa.-based SEI Investments, in accordance with a long-term agreement that the two organizations established. The service model that SEI will provide to SunTrust supports large-bank portfolio-accounting and processing operations. The system conversion is expected to take 12 to 16 months, and will involve a combination of SEI and SunTrust employees. E. William Wohlford, SunTrust's executive vice president of private client services operations, said in a statement, "SEI's conversion track record was an important decision factor for us."
SS&C Technologies, a Windsor, Conn.-based investment-management-software vendor, is targeting the wealth-management market with its recent acquisition of Investment Advisory Network. IAN, a vendor specializing in Web-based wealth-management services. IAN's solution provides integrated applications, functionality and data sources for pre-sale investment-selection processes and post-sale portfolio-management requirements. IAN's clients include financial institutions, broker-dealers and financial advisors who offer managed accounts to the private-wealth market.
Canadian investment-management company AGF has implemented PeopleSoft Enterprise CRM. The solution offers AGF the ability to enhance its relationships with its intermediary advisers and brokers. The solution was deployed to the firm's customer-service team last month. The team can now collect adviser and broker data in real time so that the firm can match service levels to current and future value. The current stage of the project has the firm linking marketing efforts to the recommendation trends from its brokers. PeopleSoft Enterprise CRM enables AGF to better understand the relationship between its intermediaries and their customers, said Stephen Elioff, vice president of customer-relationship management at AGF, in a statement. This knowledge of the customer will help AGF deliver the right product, service and information to the right broker at the right time, he adds.