Compelo Banking - Latest industry news and analysis is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More

BB&T Implements Overlay Management Using SunGard’s WealthStation, AddVantage

BB&T’s 350 advisors are now able to view account relationships, perform asset allocation analysis, and create proposals and investment policies at the household level

Branch Banking & Trust (BB&T) has expanded its use of SunGard’s WealthStation wealth management platform and AddVantage asset management and trust accounting system to enhance its investment offerings and services to its clients. Reportedly, SunGard’s support of unified overlay management helps BB&T expand its resources into other model managers, reduce client investment costs and risk and provide clients with a holistic view of their accounts.

SunGard has said that its WealthStation platform , which is integrated with AddVantage system, helps BB&T to construct investment portfolios tailored to meet its clients’ objectives. Ray Hand, senior vice president and chief execution and innovation officer at BB&T, said: “SunGard helps us provide more comprehensive advisory services to our affluent clients by helping us to show them how their accounts work together to meet long-term objectives. It also helps us mitigate risk across entire households versus each separate account. In addition, SunGard helps us to maximize the use of overlay with the ability to concisely present individual manager analytics as well as across all client accounts through WealthStation’s robust investment proposal generation process.”

Blaine Maxfield, chief operating officer of SunGard’s wealth management business, said: “Advisors today need to be able to acquire, service and grow their client relationships by providing innovative investment choices through a comprehensive review of their clients’ investment portfolios. SunGard’s wealth management solutions support integrated overlay to help give customers including BB&T the control and efficiency investors are seeking.”

Pennsylvania-based SunGard provides software and processing solutions for financial services, higher education and the public sector. It also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.