SunGard has launched WealthStation PlanAdvisor, an enhanced version of the former WealthStation FundSource solution, to assist investment advisors and other plan fiduciaries serving qualified retirement plans.

SunGard has launched WealthStation PlanAdvisor, an enhanced version of the former WealthStation FundSource tool, to assist investment advisors and other plan fiduciaries serving qualified retirement plans.

SunGard said WealthStation PlanAdvisor automates the investment process to help advisors and their co-fiduciaries design investment line-ups and conduct fiduciary reviews that are compliant with regulations such as 404(a)(5) and 408(b)(2). It consolidates fund, plan and platform data onto a single platform and provides reporting and automatic fund reviews.

The firm identified three trends it says are driving plan advisors to seek efficiencies in their fiduciary practices. They are: increasing demand for 3(21) or 3(38) services; the complexity and time-consuming nature of working with 401(k) plans; and plan fiduciaries wanting to reduce their litigation risk due to increased regulatory scrutiny.

SunGard Financial Systems provides software and IT services to institutions in the financial services industry.

Last October, the firm rolled out WealthStation CompAct, a planning solution designed to give advisors the ability to rapidly produce financial plans (see more here).