MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, January 24, 2000 UAM Sells InvestLink In a highly anticipated move, United Asset Management (UAM) has sold InvestLink Technologies to Federated Investors. As the MFWire.com reported late last year (12/03/99), the industry was rife with rumors about UAM divesting itself of the New York based recordkeeping software company. The deal was announced today. "This is a great opportunity for our company, our prospects, and our clients," Tim Slavin, ceo and co-founder of InvestLink, told InvestmentWires.
As part of the agreement, InvestLink will continue to operate out of New York City. It will also be developing new recordkeeping e-commerce products in the defined contribution market. "We will have more opportunities internationally, more distribution of investment option such as money markets, GICs, and stable value," Slavin added. "We are very positive about this move, and we will be working with a parent that understands the defined contribution business," he concluded. For UAM, this transaction means that it can focus on its core business which is investment management. According to Federated, though, this transaction provides the firm with unique opportunities. "We frequently work with financial intermediaries so that we can help to grow both businesses. This partnership fits that strategy perfectly. InvestLink's work with recordkeeping software touches many areas of the TPA marketplace," Art Cherry, president of Federated Services Company, told InvestmentWires. "This is going to be a complementary arrangement," he continued. "We are not going to be integrating systems." The two firms will work together to evaluate products in the defined contribution marketplace for their clients. One area that these firms will be investigating is advice. It is possible that a combined team of Federated and InvestLink officials will be investigating options regarding advice in the near future. "Our new relationship with InvestLink provides their clients with more opportunities for enhanced distribution. We intend to work together to the benefit of both our clients. Our goal is to double the business at InvestLink in the near future," Cherry concluded. Printed from: MFWire.com/story.asp?s=25466 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |
