Royal Alliance has developed a new financial product selection and management tool for its brokers. Called VISION2020 Advisor, the product provides account management, reporting, risk assessment, asset allocation and trading functions.
"Our new advisory technology suite will help ensure that Royal's planning practices run smoother and position advisers to focus better on helping their clients make smart decisions about their money," said Mark Goldberg, president of the SunAmerica subsidiary.
VISION2020 automatically populates new account forms from a client's profile and executes mutual fund and stock transactions. In addition, the system generates account statements and offers numerous tools to support the financial planning and sales process.
VISION2020 also includes a variety of asset allocation tools from Ibbotson & Associates, for instance, to enable brokers to establish a client's asset allocation profile and select individual investments. Furthermore, the "Optimizer" program provides long-term support in portfolio rebalancing.
Currently, the system supports the trading of securities and mutual funds, including exchange-traded funds, unit investment trusts and closed-end funds. Eventually, it will encompass annuities, margin trades and a variety of option strategies.
VISION2020 has been tailored with simplicity in mind, as advisers need to be able to understand and use the system easily, according to Royal Alliance. Field testing has demonstrated that the system is intuitive and easy to use, said Dayla Rodriguez, VP of technology.