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Rating:AdvisorCentral Inks Another Deal Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, May 21, 2002

OPERATIONS
AdvisorCentral Inks Another Deal

by: Sean Hanna, Editor in Chief

AdvisorCentral has won another 200 relationships with fund firms through a newly announced agreement with SunGard Investor Accounting Systems. The announcement follows a similar deal made with Bisys last week. With the pair of deals AdvisorCentral now has partnerships with six mutual fund transfer agents. Roughly 270 funds will be a part of the site through the arrangements.

The latest agreement brings fund firms using SunGard's Investar*ONE recordkeeping system to the AdvisorCentral Web portal. Five-month-old AdvisorCentral is jointly owned by Fidelity Investments, Franklin Templeton Investors Services, Putnam Investments and PFPC.

AdvisorCentral has grown its number of users by 111 percent since its launch, said a spokesperson. Meanwhile, the number of accounts has increased by 60 percent and site activity has increased by 35 percent.

Along with inking the pair of agreements, AdvisorCentral also recently launched interactive account inquiry capabilities built on the NSCC's new Fund/SPEED service. The tool allows advisors real-time access to mutual fund account information held in multiple transfer agent systems.

"By connecting our transfer agency platform to AdvisorCentral our clients get direct, real-time access to the financial intermediary channel, opening up distribution and increasing our service capacity," said Kenneth J. Kempf, president, mutual funds shareholder services unit of SunGard Investor Accounting Systems.

"This agreement with SunGard further demonstrates AdvisorCentral's commitment to work and interact with different service providers to broaden our offerings and better serve our customers," said Joseph T. Grause, Jr., president and chief executive officer of AdvisorCentral in a statement.  

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