Boston Financial Data Services has completed the conversion of the WM Group of Funds to its sub-transfer agency business. Boston Financial, with technology provided by DST Systems, Inc., will provide the technology infrastructure and shareholder servicing for WM Shareholder Services (WMSS), and facilitate broader access to third party distribution channels.
The WM Group of Funds has experienced nearly 25 percent growth in assets under management per year for the past three years. “Our wholesalers have found that advisors affiliated with independent financial planning firms are most interested in selling funds available on DST Vision,” said Debra Ramsey, senior vice president and chief operating officer, WM Shareholder Services, Inc. “As we continue to grow our business, we must be responsive to the support needs of our distribution partners.”
By participating in Vision, management companies seek to reduce demands on their own customer service resources while providing comprehensive and consolidated information to financial intermediaries. Through the Vision Web site, financial advisors access their books-of-business, establish customized account relationships, access electronic statements and have the ability to conduct a variety of transactions.
“Boston Financial is committed to delivering a technology and service model that fully supports WM Group of Funds’ shareholders and the intermediaries that sell their funds,” said Mark Scovell, senior vice president, Boston Financial. “We look forward to building a long-lasting, collaborative relationship with the WM Group of Funds.”