SunGard Retirement Platform to Offer iShares Trading
SunGard has teamed up with iShares to launch a solution to help advisers and third-party administrators (TPAs) incorporate exchange-traded funds (ETFs) as standard options in defined contribution plans.
TPAs and advisers using SunGard’s Omni and Relius recordkeeping platforms for benefit administration will be able to access and trade iShares ETFs through an integrated link to the SunGard Transaction Network (STN), according to a news release. ETF custodial services will be provided by Mid Atlantic Trust Company’s ETFxChange platform.
SunGard said the new solution will help retirement plan providers that choose to invest in ETFs to do so using proven systems for mutual funds with enhanced processing specifically for ETFs, allowing TPAs and advisers to trade and settle ETFs like no-load mutual funds. The system will allow for integration of ETFs and mutual funds within 401(k), 457, or 403(b) retirement plans.
“ETFs have continued to experience tremendous growth as investors seek alternative options to fund their retirement,” said Darek Wojnar, head of product strategy at iShares, in the release. “SunGard’s ETF solution will help provide the trading support and operational efficiencies that TPAs and their advisers need to help clients better manage risk through portfolio diversification.”