NU Online News Service, May 14, 2003, 4:37 p.m. EDT – Independent Financial Marketing Group Inc., Purchase, N.Y., says it has set up its own, proprietary, Web-based system for entering orders for annuities, mutual funds and brokerage accounts.

The company, a unit of Sun Life Financial Services of Canada Inc., Toronto, is starting by using the StreamPoint system at its retail office in Denver.

The system automates document production, compliance and other back-office and front-office processes involved with selling insurance and investments, Independent Financial says.

Independent Financial, a major distributor of annuities and other products through financial institutions, plans to introduce the StreamPoint system at its client banks and other banks over the coming months, the company says.

Richard Koll and James Kirrane, two Independent Financial senior vice presidents, directed the effort to implement the StreamPoint system.

Other companies have introduced independent annuity order-entry systems.

Independent Financial argues that its system will be different. Because Independent Financial is using the system to support its own distribution operations, it will be quicker than competitors to make improvements, the company says.