Vision, a Web portal for financial advisors where they can access such funds as Alliance Capital, American Funds, AIM, MFS Investment Management, and OppenheimerFunds, Inc., is scheduled to launch Advisor Defined Portfolios. This new feature is an online tool that will enhance the way advisors maintain accounts and manage their customer relationships. Advisor Defined Portfolios enables financial advisors to group client accounts into portfolios across fund and variable annuity companies. The portfolios then optionally serve as building blocks to form client households, which link related portfolios.
FundQuest Incorporated has signed agreements with six institutions to offer branded, fully integrated mutual fund and separate-account investment platforms. The platform allows for the consolidation of mutual funds and separately managed accounts into a single-diversified portfolio, effectively providing one-stop-shopping for high-net-worth investors. Institutions that team with FundQuest can offer their financial advisors products and services that respond to the emerging consumer interest in managed accounts. Managed accounts allow investors to diversify their portfolios, track performance, and pay an asset-based fee rather than a commission on transactions.
SecuritiesHub a provider of financial information to the fixed-income online community, has announced that 144A offerings are now featured together with public and exempt issues on SyndicateHub. Launched in the spring of 2001, SyndicateHub is a dealer-direct Internet hub, which provides real-time primary marketinformation to the investment community with links to the dealers' proprietary e-Syndicate sites. SecuritiesHub services, which include BondHub and SyndicateHub, are accessed by more than 11,000 institutional investors worldwide, making it the largest and fastest growing fixed income community online.
State Street Corporation announced that it has acquired a minority interest in ByAllAccounts Inc., a provider of portfolio analysis and account-aggregation solutions. State Street will integrate ByAllAccounts' WebPortfolio product line and advanced data solutions through its Wealth Manager Services business. State Street Wealth Manager Services provides solutions for their clients serving all segments of wealth management. ByAllAccounts will continue to operate as an independent company.