SunGard Launches WealthStation PlanAdvisor to Help Advisors Achieve Growth in Managing 401(k) Plans

Wayne, PA - 24 March 2014

SunGard has launched WealthStation PlanAdvisor to help investment advisors and other plan fiduciaries serving qualified retirement plans grow their client base. WealthStation PlanAdvisor automates the investment process to help advisors and their co-fiduciaries collaboratively design investment line-ups and conduct fiduciary reviews, while maintaining compliance with regulations such as 404(a)(5) and 408(b)(2).

Three key trends are driving plan advisors to seek efficiencies in their fiduciary practices:

  1. There is an increasing demand for 3(21) or 3(38) services
  2. Working with 401(k) plans is more complex and time-consuming
  3. Plan fiduciaries want to reduce their litigation risk due to increased regulatory scrutiny

In addition, plan advisors are having a positive impact on retirement savings rates. According to the Retirement Advisor Council, companies that sponsor 401(k) and 403(b) plans, who partner with a professional retirement plan advisor, see higher participant outcomes.

WealthStation PlanAdvisor (an enhanced version of the former WealthStation FundSource solution) consolidates fund, plan and platform data onto a single platform. It provides flexible reporting and automatic fund reviews, while flagging investment policy statement (IPS) exceptions, recommending replacement funds automatically, and documenting discretionary approvals for future review and audit.

“The increasing complexity of being a plan fiduciary places constraints on the number of plans advisors can effectively manage. SunGard’s WealthStation PlanAdvisor automates and documents the entire fiduciary investment process, helping advisors grow their business while better managing their risk”, Scott Parry, EVP & general manager - advisory services, SunGard’s wealth & retirement administration business

SunGard Financial Systems provides mission-critical software and IT services to institutions in virtually every segment of the financial services industry. The primary purpose of these systems is to automate the many detailed processes associated with trading, managing investment portfolios and accounting for investment assets. These solutions address the processing requirements of a broad range of users within financial services, including asset managers, traders, custodians, compliance officers, treasurers, insurers, risk managers, hedge fund managers, plan administrators and clearing agents. In addition, we also provide professional services that focus on application implementation and integration of these solutions and on custom software development.

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