SunTrust to Introduce New Investment Platform for Wealth & Investment Management Clients
07 Settembre 2007 - 2:46PM
PR Newswire (US)
Announces Technology Agreement with CheckFree ATLANTA, Sept. 7
/PRNewswire-FirstCall/ -- SunTrust Banks, Inc. (NYSE:STI) today
announced its plan to introduce a new investment platform in 2008
for the approximately 250,000 clients served by the bank's Wealth
& Investment Management line of business. The multi-style,
multi-advisor, single-account service can provide clients enhanced
diversification through a wider range of traditional and
alternative investment vehicles. The new open architecture platform
is designed to provide access to 'best in class'
institutional-caliber asset management firms outside the SunTrust
network and to optimize tax-sensitivity and asset class rebalancing
while accommodating client-specific account guidelines. According
to Bill Rogers, Corporate Executive Vice President and head of
SunTrust's Wealth & Investment line of business, this 'Unified
Managed Account' represents the next step in the evolution of
investment advisory offerings by packaging multiple investment
products such as separately managed accounts (SMAs), mutual funds
and exchange traded funds (ETFs) into a single managed account.
"With this new offering, we are being responsive to our clients'
individual needs and building upon SunTrust's legacy in wealth and
investment management," said Mr. Rogers. "By blending current
investment strategies, clients will be able to take advantage of
our enhanced asset allocation framework and a broader selection of
investment managers in one convenient account. Aligning clients'
existing portfolios to the new investment platform will provide
them access to all these valuable resources." SunTrust will act as
overlay manager rather than outsourcing this critical role in order
to deliver the highest customization possible to clients. Overlay
technology that enables interconnection among the multi-advisor
systems across the platform will be provided by CheckFree's
Investment Services division (NASDAQ:CKFR) which recently acquired
Upstream Technologies, LLC, a leading provider of investment
management solutions for asset managers. Commenting on the
partnership, Pete Kight, Chairman and CEO of CheckFree said,
"SunTrust has been a valued customer and partner with CheckFree for
many years, and is well known for its history in trust and wealth
management. By leveraging CheckFree's capabilities, SunTrust will
be able to bring a higher level of customization to the bank's
clients, and optimize their ability to deliver on objectives by
accessing multiple experts and investment options." The new
investment platform complements the solutions currently offered to
SunTrust Wealth & Investment Management clients. Capabilities
range from wealth planning to investment advisory, fiduciary
services including estate and financial planning, to credit
advisory services for personal clients. Institutional clients also
enjoy a wide range of capabilities ranging from 401K Plan Sponsor
support to custody, planned giving, and administrative services
meeting the needs of nonprofit organizations. SunTrust Wealth &
Investment Management, with approximately $250 billion in managed
and advised client assets, delivers these solutions primarily
through a team-based model led by advisors with deep expertise in
the fiduciary and wealth management and institutional investment
needs of personal and institutional clients, respectively. With
over 100 years experience in trust, wealth and investment
management, SunTrust has developed and acquired expert fiduciary
and investment talent. SunTrust Banks, Inc., headquartered in
Atlanta, is one of the nation's largest banking organizations,
serving a broad range of consumer, commercial, corporate and
institutional clients. As of June 30, 2007, SunTrust had total
assets of $180.3 billion and total deposits of $122.9 billion. The
Company operates an extensive branch and ATM network throughout the
high-growth Southeast and Mid-Atlantic states and a full array of
technology-based, 24- hour delivery channels. The Company also
serves customers in selected markets nationally. Its primary
businesses include deposit, credit, trust and investment services.
Through various subsidiaries the Company provides credit cards,
mortgage banking, insurance, brokerage, equipment leasing and
capital markets services. SunTrust's Internet address is
suntrust.com DATASOURCE: SunTrust Banks, Inc. CONTACT: Hugh Suhr of
SunTrust Banks, Inc., +1-404-827-6813 Web site:
http://www.suntrust.com/
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