BB&T Asset Management, Inc. Selects PFPC's ADVISORport For Its Unified Managed Account Program
Wilmington, DE (PRWEB) April 21, 2008 -- ADVISORport® (http://www.advisorport.com), a PFPC Worldwide Inc. (http://www.pfpc.com) company, today announced that BB&T Asset Management, Inc., a registered investment adviser and subsidiary of BB&T Corporation, has selected its Unified Managed Account (UMA) platform. The ADVISORport UMA, a flexible alternative to fixed-allocation and fixed-manager models, will allow BB&T's financial advisors to blend separate account manager models, mutual funds and exchange traded funds within one custodial account.
With ADVISORport's UMA, asset allocation models are based on client-specific risk profiles, which advisors can tactically adjust based on near-term market conditions. In addition, advisors can customize portfolios with an active tax-managed overlay and offer clients the ability to restrict the purchase of specific stocks or industry groups from an account.
"We are pleased to partner with PFPC's ADVISORport on the implementation of its UMA platform and look forward to delivering a customized suite of investment products to our clients," said Keith Karlawish, president, BB&T Asset Management, Inc.
Launched in 2007, ADVISORport's flexible UMA program affords sponsors significant opportunities for customization. These include the ability for the program sponsor to determine the inventory of investment vehicles and private label their own program name and brand throughout their Web site, and on client output. In cases where custom development is not a priority, ADVISORport can provide an off-the-shelf platform that includes many modification options.
"The ADVISORport UMA provides financial advisors a greater opportunity to harness their expertise and judgment on a client's behalf," said Anthony J. Harper, president, ADVISORport. "Having a consolidated view of investment portfolios that can be managed with a high-level of tax efficiency helps ensure advisors can meet a varying degree of client needs."
BB&T Asset Management, Inc. offers a full range of investment management strategies, including domestic and international equity and fixed income investing. As of December 31, 2007, BB&T Asset Management holds more than $18.6 billion in assets under management, employs more than 60 investment professionals and has a highly trained, experienced and stable investment management team.
BB&T Asset Management is a wholly owned subsidiary of Winston-Salem, N.C.-based BB&T Corporation (NYSE: BBT), which is the nation's 14th largest financial holding company with $136.4 billion in assets. It operates nearly 1,500 financial centers in 11 states and Washington, D.C. More information about the company is available at BBT.com.
ADVISORport, Inc. (http://www.advisorport.com) ("ADVISORport") is a federally registered investment adviser, and a wholly owned subsidiary of PFPC Worldwide, Inc. ADVISORport provides various investment advisory services and may act as program sponsor.
In addition to ADVISORport's investment advisory services, PFPC's managed account services group provides back-office solutions to registered investment advisors, broker/dealers, and money management firms. These solutions include an online managed account platform, flexible and fixed UMA model platforms, Web-based mutual fund wrap services and money manager back-office outsourcing.
PFPC (http://www.pfpc.com), a member of The PNC Financial Services Group, Inc. (http://www.pnc.com) (NYSE:PNC), is a leading provider of processing, technology and business solutions to the global investment industry. PFPC offers subaccounting, transfer agency, managed account, alternative investment, fund accounting, administration and custody services, representing over $2.6 trillion in total assets. Visit us at www.pfpc.com.
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