Implementation of Overlay Portfolio Management Solution Allows for Consistent, Customized Open-Architecture Investment Solutions
CAMBRIDGE, MA–(Marketwire – Jun 26, 2012) - Smartleaf, Inc., a leading provider of overlay portfolio management solutions to the wealth management industry, announced today that People’s United Bank, the premier, community-focused, regional bank headquartered in the Northeast, has chosen Smartleaf’s overlay technology for its Wealth Management business. The initiative will give People’s United access to the best ideas of the industry via third-party models while simultaneously improving customization, tax management, consistency and efficiency. With its new solution, the bank’s portfolio managers will retain complete control over their clients’ assets while continuing to offer open-architecture “best-of-breed” research.
“At People’s United, we are deeply committed to providing our clients with customized solutions that best meet their individual investment needs,” said Louise Sandberg, Senior Executive Vice President, Wealth Management at People’s United. “With Smartleaf, we can offer our clients the best intellectual capital available, along with exceptional customization and tax management. Moreover, Smartleaf’s overlay enables portfolio managers to spend more time with clients, while retaining full discretion over their portfolios.”
In addition, People’s United will be able to leverage the resources of the entire firm while preserving the ability to deliver personalized solutions. People’s United will able to grow their business without added costs, while preserving or enhancing the level of service provided.
“We are honored that People’s United has chosen Smartleaf as a core component of their wealth management strategy,” said President and co-founder Jerry Michael. “We see our technology strengthening People’s United’s position as a leader in the wealth management industry.”
About People’s United Bank
People’s United Bank is a subsidiary of People’s United Financial, Inc., a diversified financial services company with $28 billion in assets. People’s United Bank, founded in 1842, is the premier, community-focused regional bank headquartered in the Northeast and provides commercial and retail banking, as well as wealth management services through a network of 361 retail locations in Connecticut, Massachusetts, Vermont, New York, New Hampshire and Maine. Through its subsidiaries, People’s United Financial provides equipment financing, brokerage and insurance services.
Smartleaf’s overlay portfolio management solution enables financial institutions to easily implement their best investment thinking and customization preferences across all client accounts, combining proprietary and third-party manager models to deliver a seamless open-architecture Unified Managed Account offering. By integrating a client’s assets into a single, customized portfolio, wealth managers using Smartleaf have achieved significant benefits in tax and expense management, asset allocation and increased returns. Founded in 1999, Smartleaf has more than $50 billion in assets under management, is privately held and based in Cambridge, Mass.
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