Morgan Stanley and BISYS today announced a strategic alliance to provide self-employed business owners with stronger and more efficient retirement programs through the Morgan Stanley Individual(k) Program.
The alliance will see the Morgan Stanley Individual(k) program use BISYS technology to handle reporting, record keeping, and other administrative services for retirement planning. Self-employed Americans use the Morgan Stanley Individual(k) programme to run their retirement savings. They can enroll, process loans, and transfer funds on the phone or the Internet, or call one of the 11,500 financial advisors employed by Morgan Stanley since its merger with Dean Witter for guidance on asset allocation.
“Morgan Stanley is committed to providing the full spectrum of premier financial services to clients of all sizes, and the Individual(k) program will help us serve the nation’s 13 million self-employed business owners,” says Frank Zafran, executive director and head of retirement planning services for Morgan Stanley. “We are pleased to team with BISYS to provide the kind of first-rate technology and support our clients expect and deserve.”
“We are delighted to establish this strategic relationship with Morgan Stanley,” adds Christopher Guarino, president of BISYS Retirement Services. “We believe the simplicity, cost-effectiveness, and full-service capabilities of our Individual(k) platform, together with Morgan Stanley’s highly trained financial advisors, make this the ideal solution for the self-employed business owner.”
“Our competitively distinct Individual(k) solution is now supporting some of the nation’s leading financial services organizations,” comments George Evans, executive vice president of business development for BISYS’ Investment Services group. “We expect our unmatched record keeping and administration solutions, and our sophisticated technology will continue to support the competitive and growth goals of additional financial services organizations that enter this lucrative market.”