SunGard enhances WealthStation platform for 401(k) advisers

Designed to help retirement plan advisers gain clients as demand for fiduciaries grows

Mar 24, 2014 @ 11:56 am

By Joyce Hanson

SunGard Data Systems Inc. on Monday announced that it has upgraded its platform for investment advisers and other retirement plan fiduciaries, as advising 401(k) plans becomes more complex and time-consuming, and fiduciaries seek to reduce litigation risk due to increased regulatory scrutiny.

The new WealthStation PlanAdvisor platform, which is an enhanced version of the former WealthStation FundSource, consolidates fund, plan and platform data onto a single platform. It is designed to help advisers build their client base as the demand grows for Employee Retirement Income Security Act 3(21) or 3(38) fiduciaries.

Without technological improvements, the increasing complexity of being a plan fiduciary limits how many plans advisers can effectively manage, according to a statement by Scott Parry, executive vice president and general manager of advisory services in SunGard's wealth and retirement administration business.

“SunGard's WealthStation PlanAdvisor automates and documents the entire fiduciary investment process, helping advisers grow their business while better managing their risk,” Mr. Parry said in a statement. He was not available for an interview.

WealthStation PlanAdvisor facilitates fiduciary reviews, helps advisers stay compliant with Labor Department regulations on fee disclosure, flags investment policy statement exceptions and recommends replacement funds automatically, according to the news release.

SunGard is a large privately held software and services company with annual revenue of approximately $4 billion and 17,000 employees in about 70 countries.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

Cybersecurity: Fears and opportunities for every adviser

Phishing schemes and financial hoaxes put advisers and their clients in the line of fire everyday. Joel Bruckenstein, the godfather of FinTech, offers some solutions for every firm.

Latest news & opinion

Raymond James executives call on industry to keep broker protocol

Also ask firms to pay for the administration of the protocol to 'ensure its longevity and relevance.'

Senate committee approves tax plan but full passage not assured

Several Republican senators expressed reservations about the bill, and the GOP cannot afford too many defections.

House passes tax bill, focus turns to Senate

Tax reform legislation expected to have more of a challenge in upper chamber.

SEC enforcement of advisers drops in Trump era

The agency pursued 82 cases against advisers and firms in fiscal year 2017, down from 98 the previous year.

PIABA accuses Finra of conflicts of interest

Public Investors Arbitration Bar Association report slams self-regulator over its picks for board of governors.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print