The Impact Report profiles 16 vendors that serve a set of nine core functions performed by fully disclosed retail introducing brokerage firms. The nine core functions include: account opening, compliance, brokerage workstation, wealth management, customer relationship management, commission processing, off-platform product processing, document management and data consolidation. The breadth rating for the participating vendors was calculated by Aite Group based on the coverage of the nine key processes, with maximum points for proprietary coverage, followed by partner coverage, then limited coverage. SunGardâs WealthStation was named the leading solution in the front-office category, which focuses on meeting the needs of financial advisors by supporting their customer interactions.
Doug Dannemiller, analyst at Aite Group and author of the report, said, âFor front-office service and technology providers, the breadth of services varies widely. SunGard is the clear leader in the front-office space among participants with a 90-point breadth rating, offering a comprehensive suite of applications supporting front-to-back-office, with particularly strong compliance and wealth management solutions.â
Blaine Maxfield, chief operating officer of SunGardâs wealth management business, said, âAs service endures as a key differentiator for advisors to attract and retain clients, the role of automation will remain critical to advisor profitability, productivity and the ability of firms to serve their clients in a transparent manner. By integrating key functions in one broker desktop solution, SunGardâs WealthStation helps advisors effectively and efficiently communicate with clients, understand their needs, provide consistent and comprehensive service, and meet compliance requirements.â