Fiserv Investment Support Services' Advisor, TPA and Financial Representative Services Saw Strong Growth in 2004
Fiserv Investment Support Services' Advisor, TPA and Financial Representative Services Saw Strong Growth in 2004
February 1, 2005
Fiserv Investment Support Services' Advisor, TPA and Financial Representative Services Saw Strong Growth in 2004DENVER--Feb. 1, 2005--Fiserv Investment Support Services (Fiserv ISS) credited an increase in product and service offerings and a stronger economy for the significant growth of its Advisor, Third Party Administrator (TPA) and Financial Representative (FR) Services business areas in 2004. Fiserv ISS is a unit of Fiserv, Inc. (Nasdaq: FISV).
The Fiserv ISS Advisor Services group, which includes DATAlynx, grew assets by 35 percent in 2004. This area now supports 425 financial advisors who custody $10.9 billion in client assets with Fiserv ISS. Fiserv ISS now serves more than 68,000 client accounts, a 27 percent increase from the previous year.
Assets under custody in the TPA Services area, which includes TRUSTlynx, grew to $5.7 billion, a $1.9 billion and 50 percent increase from 2003. TPA Services added a number of very significant TPA/Recordkeeping firms in 2004, but realized a substantial amount of this growth through many of its existing relationships.
"Last year was one of the strongest for growth in our 40-plus-year history. The company's increasing breadth and depth of products and services for financial intermediaries, combined with the strength of our personnel and stronger financial markets, helped fuel this growth," said Skip Schweiss, executive vice president of Fiserv ISS. "We expect an even stronger 2005, as we have created a stronger, more consolidated brand identity as Fiserv Investment Support Services and continue to expand our product and service lineup, as well as strengthen our sales team."
The FR Services area, which specializes in the administration of non-standard assets in retirement accounts, saw a significant increase in retirement plan investors' interest in real estate. "With the stock market volatility in recent years, investors appear to be seeking investment alternatives," said Schweiss.
Property investments held in retirement plans in the Fiserv ISS FR Services area grew by 201 percent in 2004. The service area administers more than 207,000 accounts with a reported value of $16.3 billion.
Fiserv Investment Support Services was formed in 2004 when four of the primary independent trust companies and administrative service providers in the country, First Trust Corporation, Lincoln Trust Company, Resources Trust Company and Retirement Accounts, Inc., united as Fiserv Trust Company under Fiserv ISS.
Style Notes to Editors:
NOTE: Fiserv Investment Support Services on second reference should be referred to as Fiserv ISS to accurately differentiate the company from its parent, Fiserv, Inc.
TRUSTlynx: TRUST is all capital letters.
DATAlynx: DATA is all capital letters.
About Fiserv Investment Support Services
Fiserv Investment Support Services, headquartered in Denver, is one of the nation's largest independent trust service providers, administering 322,000 self-directed retirement and custodial accounts valued at $34.7 billion through Fiserv Trust Company. The company was formed in 2004 when four of the leading independent trust companies and administrative service providers in the country, First Trust Corporation, Lincoln Trust Company, Resources Trust Company and Retirement Accounts, Inc., united as Fiserv Trust Company under Fiserv Investment Support Services. Between the four predecessor companies, there is 110 years of experience in providing quality trust, custodial and back office services to the financial services industry. Fiserv Investment Support Services is a unit of Fiserv, Inc.
About Fiserv, Inc.
Fiserv, Inc. (Nasdaq: FISV) provides information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 15,000 clients worldwide, including banks, credit unions, financial planners/investment advisors, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv reported 2004 processing and services revenues of $3.4 billion. Fiserv can be found on the Internet at www.fiserv.com.
The Fiserv ISS Advisor Services group, which includes DATAlynx, grew assets by 35 percent in 2004. This area now supports 425 financial advisors who custody $10.9 billion in client assets with Fiserv ISS. Fiserv ISS now serves more than 68,000 client accounts, a 27 percent increase from the previous year.
Assets under custody in the TPA Services area, which includes TRUSTlynx, grew to $5.7 billion, a $1.9 billion and 50 percent increase from 2003. TPA Services added a number of very significant TPA/Recordkeeping firms in 2004, but realized a substantial amount of this growth through many of its existing relationships.
"Last year was one of the strongest for growth in our 40-plus-year history. The company's increasing breadth and depth of products and services for financial intermediaries, combined with the strength of our personnel and stronger financial markets, helped fuel this growth," said Skip Schweiss, executive vice president of Fiserv ISS. "We expect an even stronger 2005, as we have created a stronger, more consolidated brand identity as Fiserv Investment Support Services and continue to expand our product and service lineup, as well as strengthen our sales team."
The FR Services area, which specializes in the administration of non-standard assets in retirement accounts, saw a significant increase in retirement plan investors' interest in real estate. "With the stock market volatility in recent years, investors appear to be seeking investment alternatives," said Schweiss.
Property investments held in retirement plans in the Fiserv ISS FR Services area grew by 201 percent in 2004. The service area administers more than 207,000 accounts with a reported value of $16.3 billion.
Fiserv Investment Support Services was formed in 2004 when four of the primary independent trust companies and administrative service providers in the country, First Trust Corporation, Lincoln Trust Company, Resources Trust Company and Retirement Accounts, Inc., united as Fiserv Trust Company under Fiserv ISS.
Style Notes to Editors:
NOTE: Fiserv Investment Support Services on second reference should be referred to as Fiserv ISS to accurately differentiate the company from its parent, Fiserv, Inc.
TRUSTlynx: TRUST is all capital letters.
DATAlynx: DATA is all capital letters.
About Fiserv Investment Support Services
Fiserv Investment Support Services, headquartered in Denver, is one of the nation's largest independent trust service providers, administering 322,000 self-directed retirement and custodial accounts valued at $34.7 billion through Fiserv Trust Company. The company was formed in 2004 when four of the leading independent trust companies and administrative service providers in the country, First Trust Corporation, Lincoln Trust Company, Resources Trust Company and Retirement Accounts, Inc., united as Fiserv Trust Company under Fiserv Investment Support Services. Between the four predecessor companies, there is 110 years of experience in providing quality trust, custodial and back office services to the financial services industry. Fiserv Investment Support Services is a unit of Fiserv, Inc.
About Fiserv, Inc.
Fiserv, Inc. (Nasdaq: FISV) provides information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 15,000 clients worldwide, including banks, credit unions, financial planners/investment advisors, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv reported 2004 processing and services revenues of $3.4 billion. Fiserv can be found on the Internet at www.fiserv.com.