Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Move Over, Here Comes Bisys Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, June 11, 2002

Move Over, Here Comes Bisys

by: Tony Pennino

The 529 space has gotten that much tighter. Bisys Investment Services Group is entering the fray, Jylanne Dunne, executive vice president of Bisys Fund Service, told the MutualFundWire.com. And that's not all. The firm will be providing administrative support for Bank One, which provides services for the State of Indiana's 529 plan.

According to statistics from the firms, that plan has approximately 8,000 participants and $47 million in assets.

"This agreement is just the start. We are planning on offering a whole suite of 529 products and services," Dunne reported. "We see this as a fast growing business. We have a new product team in place that has a strong knowledge of all the legal, regulatory, and tax implications of 529 plans. So, we can work with asset managers who may not have as strong a background in these areas. There is plenty of opportunity in this marketplace. There are a couple of states now looking at their current products. There is room for a fully bundled 529 service."

Dunne further noted that Bisys is interested in employer-sponsored 529 plans and that there are opportunities to cross-sell it with its other products it offers companies, such as payroll service.

Bisys is deploying its systems and other resources that it uses for other administrative support services -- such as mutual funds, ETFs, and separate accounts -- for this project. "Our agreement with One Group Administrative Services is a strategic milestone for BISYS since it marks our entrance into a dynamic new segment of the financial services industry, and demonstrates the strength and functionality of the accounting platform we offer to support the complex requirements of 529 college savings plans," opined Bill Tomko, president of the unit at Bisys. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use