Connecting retirement plan advisors and benefit administrators, WealthStation fund source works in conjunction with SunGardâs Reliusdministration and Omnirecordkeeping solutions, as well as third-party solutions, by combining mutual fund and platform data with retirement plan information. This helps the plan advisor to perform mutual fund research, prepare plan reviews and create simple or complex filters to limit fund selection to those that meet specific, predefined criteria.
A full-service 401(k) provider acting as both advisor and trustee to corporate 401(k) plans, INTRUST manages $3.3 billion in total assets, including $1.3 billion in qualified retirement plan assets alone. INTRUST has used SunGardâs Relius Administration system since 1999. Integrating WealthStation fund source with Relius helps INTRUST improve the efficiency of its proprietary fund scoring system, monitor and replace funds, and generate plan sponsor reports.
Troy Jordan, executive vice president at INTRUST Wealth Management, said, âWealthStation fund source helps us create new operational efficiencies by turning a manual process into a fully automated one leveraging data from fewer systems. WealthStation fund source helps our relationship managers enhance their effectiveness in fulfilling our fiduciary responsibilities and efficiencies of accessing mutual fund and plan data on-demand. SunGardâs continued innovation in the benefit administration space has helped INTRUST accelerate its growth by providing a robust technology framework for fostering deeper relationships with our clients.â
In recent years, the need to forge stronger relationships between advisors, sponsors and providers has become imperative to reach the ultimate goal of ensuring plan participants are maximizing returns on their retirement savings. The level of advisor involvement in the benefit administration industry continues to steadily increase, driving the need for advisors to quickly and easily access pertinent plan and fund data. In order to provide accurate and timely investment recommendations, advisors must have effective tools that allow them to monitor the markets and evaluate fund performance on a continual basis. In addition, plan sponsors must ensure they are effectively protecting participantsâ interests as part of their fiduciary responsibility.
Selecting plan investments can be complicated, and obtaining all of the necessary data can be expensive and time consuming, as the advisor may need to access multiple sources to gather the information required and complete the analysis. By integrating these key functions into a single user interface, WealthStation fund source helps advisors communicate with clients, understand their needs, and provide comprehensive services.
Melissa Cullen, executive vice president for SunGardâs wealth managementbusiness, said, âSunGard is committed to expanding its offerings for the benefit administration space in order to help support increasing interactions between advisors and sponsors. Benefit administrators need to be able to communicate effectively with advisors to stay competitive, retain existing clients and acquire new ones. Automation will remain critical to business growth, productivity and ability to serve clients in a transparent and efficient manner as they navigate their retirement savings plans.â