AIG's Advisor Group To Launch Second-Generation Wealth Platform

Devina Shah

1 June 2011

AIG Advisor Group, the broker-dealer business of American International Group, is to launch the second generation of its technology platform, to be called Vision 2020 Wealth Management, according to media reports.

One goal of the new platform is targeting financial advisors who are not as keen on adopting managed accounts and model portfolios and encouraging them to do so, according to a report by Investment News.

The revised platform, developed with turnkey platform provider Envestnet, will be web-based and built on open architecture, with an integrated managed account area. It will provide new portfolio management tools, offer a custom-built trading engine and a variety of investment options alongside the account administration features developed for the first generation, says the report.

Advisor Group has integrated its advisor-managed portfolio into Envestnet's standard platform, Randy Epright, the group's executive vice president in charge of technology, told the publication in an interview.

“We brought over a number of custom features, including our performance-reporting system, and our global re-balancing and trading features,” he said.

The platform will be rolled out in two stages, with development costs estimated at a “healthy seven digits”.