ADVISORport would become a part of PFPCs managed account services business unit, which supplies technology and managed account services to enterprise sponsors, registered investment advisers, and money managers, the Delaware unit of PNC Financial Services Group Inc. said.
The deal is expected to close in mid-October. The price was not disclosed.
- After the closing, PFPC managed account services will offer a variety of outsourcing solutions to financial institutions, including ADVISORport's online managed account and unified managed accounts model platforms, PFPC's Web-based mutual fund wrap services, and money manager back-office outsourcing, the company said in a press release.
PFPC managed account services intends to retain the ADVISORport brand name for its managed account technology platform.
