Sunstone, the outsource provider of mutual fund administration and accounting, compliance, marketing and distribution have added the capability of online account enrollment along with transaction capabilities to its services.
The additions
to the Milwaukee-based firm's product lineup will be available next month, said
Paula Carabell, business development manager. "There was a great interest because many funds companies are technologically focused. It allows them the opportunity to sell their fund shares through an entirely new distribution channel."
Financial advisors as well as individual investors can sign on the dotted line and open an account. "Anyone can get online and invest,"
Joe Roblee, investor services manager for Sunstone said. "The industry on a whole is very transition and technology based."
Marsico Capital Management has revamped its entire site and will be the first of Sunstone's clients to add the new technology. The introduction of the firm's new site should take place in March, Carabell said.
Carabell explained that the most difficult part of creating account enrollment was legal compliance issues. "No tech is easy but we already had a platform here that is very nimble."
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