Press Releases
Envision Financial Systems PowerAgent Compliant with New NSCC College Savings Plan Capabilities
529 Plan Providers using PowerAgent enable increased distribution through brokers
Irvine, CA. January 4, 2010 – Envision Financial Systems, Inc., a leading provider of technology solutions to the mutual fund industry announced today that their College Savings Plan Administrator clients can streamline their processes using new Fund/SERV and Networking capabilities for 529 plan processing. The Envision PowerAgent 529 shareholder accounting system is currently one of a select number of firms to support these new capabilities.
The new NSCC functionality automates qualified and non-qualified account distribution transactions and eases the communication of basis and earnings information for 529 plan administrators. The lack of automation in trading created manual, non-standard processes between fund companies and their broker dealer distribution partners. This new functionality streamlines 529 distributions trading for brokers and removes manual processes that have kept some brokers from actively promoting 529 plans. Envision worked with its 529 clients and the NSCC to test the new functionality.
Brian Jones, EVP of Envision says “Envision continually works with our clients to help them capitalize on business growth opportunities. We believe it is paramount to remove all barriers that limit the distribution of 529 plans and the contribution they make in children’s education.”
About Envision Financial Systems
Founded in 1994, Envision Financial Systems, Inc. is a leading provider of real-time shareholder accounting software solutions to the mutual fund and financial services industry. Using in-depth knowledge of the industry and listening to its customers, Envision provides its clients with real-time access to data that optimizes productivity, increases customer satisfaction and enables emerging business needs. Envision’s headquarters are in Irvine, California, with offices in Owings Mills, Maryland and Bangalore, India. For more information, visit www.enfs.com.
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Envision Financial Systems Contact:
John Gray
(714) 247-0030; extension 124