KANSAS CITY, Mo. and NEW YORK, Sept. 12, 2012 /PRNewswire/ -- DST Systems, Inc. and BlackRock, Inc. today announced that BlackRock is now participating in DST Vision, the leading Web-based account management tool for financial intermediaries.
"We're pleased to be part of DST Vision and are eager for the financial intermediaries who distribute our products to utilize its valuable account access features and tools in the management of their practices," said Frank Porcelli, head of BlackRock's US Retail Business.
BlackRock, one of the world's leading providers of investment, advisory, and risk management solutions, went live with its Vision participation on June 16, 2012. The firm joins more than 415 mutual fund, insurance, and real estate investment trust companies currently on the DST Vision platform.
With the addition of BlackRock, all of the top 25 wholesale-distributed fund families now participate in Vision.
"We are particularly excited to welcome BlackRock to the lineup," said Kyle Mallot, vice president of distribution support solutions for DST Systems. "The advisor community has been asking for this and will be very pleased with the announcement."
DST Vision has become the market leader by consistently delivering vital functionality and advanced technology to help advisors simplify their day-to-day practice management. Vision provides one-stop access to client account information consolidated across its participating companies for an aggregated book-of-business. Providing advisors access to real-time, critical information and self-servicing tools, Vision helps them spend less time managing information and more time on their clients' investing needs. With more than 130,000 advisors accessing it every month, DST Vision enables product companies to reduce support costs and optimize distribution.
BlackRock serves a broad range of investors in more than 100 countries. The firm's retail and high-net-worth investors are served primarily through intermediaries, including broker-dealers, banks, trust companies, insurance companies, and independent financial advisors. At year-end 2011, assets under management for these investors totaled $403.7 billion.
DST Systems, Inc. provides sophisticated information processing solutions and services to support the global asset management, insurance, retirement, brokerage, and healthcare industries. In addition to technology products and services, DST also provides integrated print and electronic statement and billing solutions through DST Output. DST's world-class data centers provide technology infrastructure support for financial services and healthcare companies around the globe. Headquartered in Kansas City, MO., DST is a publicly traded company on the New York Stock Exchange.
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2012, BlackRock's AUM was $3.560 trillion. BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of June 30, 2012, the firm has approximately 9,900 employees in 27 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com.
The information and comments in this press release may include forward-looking statements respecting DST and its businesses. Such information and comments are based on DST's views as of today, and actual actions or results could differ. There could be a number of factors, risks, uncertainties or contingencies that could affect future actions or results, including but not limited to those set forth in DST's periodic reports (Forms 10-K or 10-Q) filed from time to time with the Securities and Exchange Commission. All such factors should be considered in evaluating any forward-looking statements. The Company undertakes no obligation to update any forward-looking statements in this press release to reflect future events. Brand, service or product names or marks in this press release are trademarks or service marks, registered or otherwise, of DST Systems, Inc., DST subsidiaries or affiliates, or third parties.
SOURCE DST Systems, Inc.