Thursday, September 13, 2012
BlackRock Hops On the DST Vision Bandwagon
Reported by Irene Park
Add one to the list of firms participating in DST Vision
] is the latest to join the platform, DST System's
web-based account management tool for financial intermediaries. The firm went live with its participation on June 16.
DST Vision now boasts more than 415 participating mutual fund and insurance companies and REITs. The addition of BlackRock also signals the inclusion of all top 25 whole-sale distributed fund families on the Vision platform.
"Vision meets the needs of financial intermediaries with business, regulatory, client servicing and compliance requirements to view client account information," said Bruce Olberding
, client services officer for distribution support solutions, in an emailed statement to the MFWire
"DST and BlackRock have had a long term relationship that ultimately lead to this mutually beneficial decision," Olberding added.
Olberding said the firm adds fund providers based on request. It also offers several transfer agency products that cover a wide range of financial services products.
Company Press Release
DST Vision® Welcomes BlackRock® to Lineup
All Top 25 wholesale distributed fund families are now on DST Vision
KANSAS CITY, Mo. and NEW YORK, Sept. 12, 2012 — DST Systems, Inc. and BlackRock, Inc. today announced that BlackRock is now participating in DST Vision, the leading Web-based account management tool for financial intermediaries.
"We're pleased to be part of DST Vision and are eager for the financial intermediaries who distribute our products to utilize its valuable account access features and tools in the management of their practices," said Frank Porcelli, head of BlackRock's US Retail Business.
BlackRock, one of the world's leading providers of investment, advisory, and risk management solutions, went live with its Vision participation on June 16, 2012. The firm joins more than 415 mutual fund, insurance, and real estate investment trust companies currently on the DST Vision platform.
With the addition of BlackRock, all of the top 25 wholesale-distributed fund families now participate in Vision.
"We are particularly excited to welcome BlackRock to the lineup," said Kyle Mallot, vice president of distribution support solutions for DST Systems. "The advisor community has been asking for this and will be very pleased with the announcement."
DST Vision has become the market leader by consistently delivering vital functionality and advanced technology to help advisors simplify their day-to-day practice management. Vision provides one-stop access to client account information consolidated across its participating companies for an aggregated book-of-business. Providing advisors access to real-time, critical information and self-servicing tools, Vision helps them spend less time managing information and more time on their clients' investing needs. With more than 130,000 advisors accessing it every month, DST Vision enables product companies to reduce support costs and optimize distribution.
BlackRock serves a broad range of investors in more than 100 countries. The firm's retail and high-net-worth investors are served primarily through intermediaries, including broker-dealers, banks, trust companies, insurance companies, and independent financial advisors. At year-end 2011, assets under management for these investors totaled $403.7 billion.
DST Systems, Inc. provides sophisticated information processing solutions and services to support the global asset management, insurance, retirement, brokerage, and healthcare industries. In addition to technology products and services, DST also provides integrated print and electronic statement and billing solutions through DST Output. DST's world-class data centers provide technology infrastructure support for financial services and healthcare companies around the globe. Headquartered in Kansas City, MO., DST is a publicly traded company on the New York Stock Exchange.
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2012, BlackRock's AUM was $3.560 trillion. BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of June 30, 2012, the firm has approximately 9,900 employees in 27 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australiaand the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com.
Stay ahead of the news ... Sign up for our email alerts now
Do You Recommend This Story?