PFPC says that Strong Financial has renewed with it as a client for its transfer agency services. Wisconsin-based Strong has used PFPC for the services for the past 15 years. The firms did not release terms of the multi-year contract other than that final terms of subject to negotiation and execution of a definitive agreement. That agreement is expected to be signed shortly.

Strong Investor Services handled $32 billion in fund assets for more than one million shareholder accounts.

"The scales were tipped in favor of PFPC during our recent review of service providers because of an excellent track record with us as well as the expertise and quality of services that they bring to the table," said Ane K. Ohm, vice president, Strong Investor Services, Inc. "In addition, PFPC offers the flexibility of a service model based on open architecture and designed to deliver superior and cohesive integrated business services while adapting to the evolving needs of investors."

"Strong's decision to renew our agreement highlights its confidence in PFPC's flexibility and personalized solutions," said Michael DeNofrio, executive vice president and senior managing director, PFPC transfer agency, in a statement.

Strong plans to add integrated desktop technology to the list of services provided by PFPC and will continue to use PFPC's image and workflow and 529 product capabilities, among other services. Strong Advisor will also use PFPC's subaccounting capabilities for its individual investor wrap program.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE