In an move to expand managed account options to its client base, SS&C Technologies announced a collaborative agreement with Envestnet Retirement Solutions on Tuesday. The agreement will integrate ERS’ managed account solution with SS&C’s recordkeeping platform, TRAC, providing one more choice for SS&C’s clientele.
“One of the keys to our TRAC retirement account servicing platform is the ability to provide clients with choice and flexibility,” said John Geli, president of Retirement Solutions for SS&C, in a statement. The addition of ERS to SS&C’s DST retirement ecosystem also allows retirement providers to keep up with standards of the defined contribution marketplace.
The system is dynamic, according to Babu Sivadasan, group president of ERS. “One size doesn’t fit all, which is why we built a solution personalized for each participant that can be adapted by the advisor,” he said in a statement.