SunTrust to Offer Wealth Management Clients New Investment Platform

The new investment platform will be introduced in 2008, an announcement from the company said. The open architecture platform is designed to provide access to ‘best in class’ institutional-caliber asset management firms outside the SunTrust network, and to optimize tax-sensitivity and asset class rebalancing while accommodating client-specific account guidelines.

The ‘Unified Managed Account’ represents the next step in the evolution of investment advisory offerings by packaging multiple investment products such as separately managed accounts (SMAs), mutual funds, and exchange traded funds (ETFs) into a single managed account, Bill Rogers, Corporate Executive Vice President and head of SunTrust’s Wealth & Investment line of business, said in the announcement.

SunTrust will act as overlay manager rather than outsourcing the role in order to deliver the highest customization possible to clients. Overlay technology that enables interconnection among the multi-adviser systems across the platform will be provided by CheckFree’s Investment Services division.

The new investment platform will be in addition to the solutions currently offered to SunTrust Wealth & Investment Management clients, which include wealth planning, investment advisory, and fiduciary services including estate and financial planning, as well as credit advisory services for personal clients. Institutional clients are also provided capabilities ranging from 401(k) plan sponsor support to custody, planned giving, and administrative services for non-profit organizations.