Leading financial services company, Buy and Hold Inc., has announced an alliance with SunGard Investor Accounting Systems to provide online brokerage services to its transfer agent clients.
In identifying the needs of long-term investors, Buy and Hold called upon SunGard to develop an electronic interface for its online Stock Purchase Service and Shareholder Conversion Programme via SunGard's Phase 3 system. The collaboration will enable clients more choice as the new service, now up and running, offers an online alternative to the traditional paper-based direct investment plans.
Investors can open a 'Buy and Hold' brokerage account online through which they can buy stock and set-up an automated investing plan and link it to their own bank account. The transaction fees are expected to be competitive and dividend re-investment is free.
Customers can quickly build a diversified portfolio from over 4,000 companies grouped for easy selection through a shopping cart interface. There is an investment minimum of $20 and dollar cost averaging strategies are available. Further benefits include twice-a-day execution and access to expert third-party content, research and an extensive library of educational information about investing and average purchase price tracking.
In addition the Shareholder Conversion Program transfers shareholders' registered shares or stock certificates into a Buy and Hold account free of charge. The service also offers the facility to consolidate shares from other accounts into their Buy and Hold account with a statement of all stock holdings.
'We're extremely pleased that Buy and Hold has chosen Phase3 to support their online investment business,' said Michael Nemerowski, president of SunGard Brokerage Systems, 'SunGard Brokerage Systems is clearly gaining momentum in the online trading arena as these firms become formidable players in financial services for the individual investor.'
SunGard Investor Accounting Systems is a subsidiary of SunGard, a world leader in integrated IT solutions and eProcessing for financial services. With annual revenues in excess of $1 billion, SunGard serves more than 10,000 clients in over 50 countries, including 47 of the world's 50 largest financial services institutions.
'Buy and Hold was founded to provide individual investors with a more affordable, convenient and educational means of investing and to offer corporations a more efficient method of servicing long-term shareholders,' said Michael D. Macleod, president of Buy and Hold. 'Our services benefit both corporate issuers and their shareholders and we are delighted that SunGard has partnered with Buy and Hold to offer these services to their clients.'
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