BISYS Group Inc., New York, has lined up an outsourcing customer in the separately managed accounts market.[@@]

Fiduciary Asset Management L.L.C., St. Louis, a firm that is managing a total of $15 billion in assets, has decided to use the BISYS WealthManager system to administer its SMA program.

An SMA program charges quarterly, asset-based fees in exchange for giving individuals and families with moderately large portfolios access to professional money managers.