WealthStation provides Coconut Grove with a sophisticated investment management solution, integrated with financial planning and proposal tools, in an ASP-based environment. Coconut Grove uses WealthStationâs financial planning, portfolio and presentation capabilities, integrated with SunGardâs Charlotte trust accounting solution and SunGardâs Unified Overlay Management Program, an outsourced solution that combines multiple money manager models into a single client account.
âThe seamless integration that WealthStation provides with Charlotte and the Overlay program greatly simplifies the process of customizing and optimizing client portfolios,â said Barry Givner, executive vice president and senior trust officer for Coconut Grove Bankâs Trust and Wealth Management Department. âWith WealthStation, we have the ability to swiftly analyze our clientsâ portfolios, financial and estate plans and present the information in a coherent and professional manner using the systemâs presentation and reporting tools. All of this provides us with a fast response and the capabilities we need to compete with larger institutions and make a positive impression on clients.â
Coconut Grove implemented SunGardâs Unified Overlay Management Program in February 2007 in order to offer investment management expertise using open architecture structure. The program helps the bank to offer clients unified managed account (UMA) capabilities in a trust environment by monitoring portfolios, identifying investment opportunities and creating a customized investment vehicle based on the return, risk and tax criteria specified for each client. Coconut Groveâs revenue has grown by 15% over the last year, which the bank in part attributes to SunGardâs Overlay platform.
âWith SunGard, we are leveraging the expertise of a proven platform to offer local trust administration and develop relationships with families,â said Mr. Givner. âThe technology today helps me to offer a sophisticated money manager process, and with SunGardâs help, we are able to create customized indices that match our asset allocations and investment objectives.â
âAs an integrated wealth management platform WealthStation is a key ingredient in helping nimble financial services institutions like Coconut Grove to implement sophisticated money management capabilities quickly and more cost effectively,â said Blaine Maxfield, chief operating officer and executive vice president of product management for SunGardâs Wealth Management business. âThe technology is helping to change the landscape of the local wealth management arena, helping community banks to provide their clients with innovative investment management and financial planning capabilities on a single platform.â