According to a BISYS announcement, BISYS Fund Services will add the separately managed accounts (SMA) space to its client lineup.
BISYS’ SMA service will include:
- account administration
- portfolio accounting and administration
- settlement services
- reporting functionality.
BISYS said it is still working out partnerships with technology and service vendors to help provide parts of its SMA offering.
Separately managed accounts are individual accounts offered by financial consultants utilizing a range of advisory services and are usually managed by money managers using an asset-based fee structure.
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