DST Vision™ to Offer Expanded Breakpoint Information
on New Resource Center
Center will complement breakpoint content currently available on Vision®
June 30, 2003
KANSAS CITY,
MO., JUNE 30, 2003 – DST Vision™ announces it is developing
a one-stop online resource center for accessing breakpoint information.
Featuring downloadable breakpoint schedules, as well as rights of accumulation
(ROA) and letter of intent (LOI) policy information, the center will complement
Vision’s suite of existing management company and fund-specific
breakpoint tools.
Transaction breakpoints are an important industry topic
as mutual fund sales loads have come under regulatory scrutiny.
The new resource center, slated to go live in August,
will make Vision’s existing breakpoint information easier to access
and use. From one convenient area in the site, advisors and back-offices
will have seamless, consolidated access to downloadable breakpoint schedules,
as well as ROA and LOI policies across participating fund companies. They
also will find other critical compliance documentation such as prospectuses
and statements of additional information.
Vision has offered breakpoint information to advisors
since its launch in 1998. The site currently provides discount categories
and breakpoints at the fund level. At the account level, Vision provides
ROA information, with links to all accounts tied to that ROA agreement.
“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.”
“In typical DST style, the team at Vision has delivered
more than we hoped for,” said Rod Lueck, president of Operations
Plus by Techmate, a Denver, Colo.-based company that provides broker/dealer
back-office commission accounting and compliance control systems. “As
accounting issues become more pressing with new regulations, the ability
to download detailed breakpoint schedules, including not only sales commissions
but dealer concessions, represents a huge time savings for back-offices.”
Introduced in 1998, DST Vision™ is designed to
provide independent advisors an easy-to-use, one-stop information source
for customer positions held directly with fund families and variable annuity
providers. With a single ID and password, advisors have access to account
management tools including transaction processing capabilities, customizable
client portfolios, and access to electronic statements. More than 70 percent
of third-party-distributed mutual funds, representing more than 93 million
accounts, and over half of the leading variable annuity providers participate
in Vision?, including industry giants AllianceBernstein, AIM Investments,
American Funds, MFS Investment Management, Nationwide Financial, OppenheimerFunds,
Inc., and Pacific Life. Vision is continually enhanced to simplify account
management and serve the evolving needs of financial intermediaries. Visit
Vision at www.dstvision.com.
DST Systems, Inc. provides sophisticated information processing
and computer software services and products that help clients improve
productivity, increase efficiencies, and provide higher levels of customer
service. DST is organized domestically and internationally into three
operating segments: Financial Services, Customer Management, and Output
Solutions. DST operates one of the most advanced data centers in the world,
which provides information-processing services to support the products
within each operating segment. These products are further enhanced through
the integration of DST’s advanced technology and e-commerce solutions.
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