SunGard Offers Automated Rollover Solution

SunGard has launched an automated rollover asset retention solution that helps to add value to existing OmniPlus and Relius Administration relationships. Through a partnership with ProNvest, the solution aim to offer SunGard clients immediate rollover asset retention and acquisition capabilities

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SunGard has launched an automated rollover asset retention solution that helps to add value to existing OmniPlus and Relius Administration relationships.

Through a partnership with ProNvest, the solution aim to offer SunGard clients immediate rollover asset retention and acquisition capabilities for their platform of choice and provides plan participants with a continued relationship for investment management.

According to industry analyst group Cerulli Associates, annual rollover inflows are expected to reach $450 billion by 2010. SunGard says it is helping its plan provider and broker clients capture, control and consolidate additional assets.

The SunGard ProNvest solution presents participants with all necessary documents to open an IRA account and liquidate assets from any platform, internal or external, and direct them to the provider’s platform of choice. The process eliminates paper processing and completes the rollover online, on the phone, or in the branch in less than 15 minutes. This technology helps customers lower their total cost of ownership by reducing printing, mailing and administrative costs through automation of digitally signed documents for additional signature, approval and review.

“SunGard provides its clients with a strategy for building trusted advisor relationships with plan participants before a rollover is even possible,” says Don Mackanos, president of SunGard Employee Benefit Systems. “Participants who believe their assets are being successfully managed on this platform may also feel more confident consolidating additional accounts using ProNvest to drive assets back to their platform of choice.

SunGard ProNvest is available to all ASP customers as an integrated module of OmniOnline and is also offered as a licensed solution for OmniPlus and Relius Administration.

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