The move will give the bank that has assets worth US $28 billion the access to new ideas through third-party models while also improving customization, tax management and thereby efficiency.
Further, the post-implementation of the technology, the bank’s portfolio managers will retain control over their clients’ assets while continuing to offer open-architecture research.
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Smartleaf, based in Cambridge, provides overlay portfolio management products. Its clients include US Bancorp (USB), Comerica (CMA) and BB&T (BBT).
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