DST Systems has consolidated breakpoint information in its DST Vision customer account platform for financial intermediaries. Offering information from 250 fund families representing 70% of third-party distributed funds, Vision now combines its breakpoint information on all of these funds in one center.
This information includes each fund companys rights of accumulation policy, whereby fund firms will allow accounts or funds within a complex to be grouped together to qualify for breakpoints. It also includes investors letters of intent, whereby they have signed a document to let their fund firm know of future purchases that would qualify them for breakpoint discounts.
DST has added two features to its new breakpoint resource center, one being the ability for fund companies to publish their breakpoint schedules, the other being software that will allow financial intermediaries to download these schedules into their own back-office systems.
"Financial intermediaries using Vision will be able to quickly access breakpoint information for their customers while they complete online transactions," said Kyle Mallot, client services officer in charge of Vision. "For back offices, the ability to download breakpoint schedules will streamline compliance obligations."