T. Rowe Price has agreed to outsource its operational-software infrastructure for its investment division. The firm will deploy Remote Enterprise Management Outsourcing from Dublin, Calif.-based vendor Sybase, to manage the division's databases. Sybase will provide services such as monitoring, alerting, reporting, problem resolution and performance management. In addition, T. Rowe Price will use the system for daily data collection, alerting via a common console, storage of historical data, and reporting.
RBC Financial Group now has 1,600 financial planners and relationship advisers on a mutual-fund order-management system from Sanchez Computer Associates. The Malvern, Pa.-based software vendor's Sanchez Funds updates back-office systems with mutual-fund orders, as well as offers automatic dividend and activity processing, and reconciliation. The solution, which was implemented over four months, was integrated into RBC's existing technology platform for distribution of third-party mutual funds with unique rules, commission structures and edits. Sanchez Funds is being used in 1,300 domestic branches of RBC.
Parnassus Investments has opted for a transfer-agent system from Tustin, Calif.-based Envision Financial Systems. Parnassus will use PowerAgent to help manage $1 billion in socially responsible mutual funds. In a statement, Susan Loughridge, vice president of Shareholder Services at Parnasses said that the firm opted for Envision for its "full-featured product, along with the expert personnel to handle our needs."