(October 26 – 15:50 ET) – Three members of the Power Financial Group of companies will soon be distributing new software to their 7,500 advisors. Investors Group, The Great-West Life Assurance Co. and London Life Insurance Co. have chosen Wealthware from Spectra Securities Software to provide order management, investor management and information management tools to their financial advisors. Spectra is a privately owned company headquartered in Toronto.
The companies have signed a five-year agreement valued at US$6 million for software and related services to be rolled out to their respective financial advisors through a phased approach, beginning in 2001. The initial phase will focus on automating the investment fund process, so that advisors can more effectively deliver investment products and services to clients.
“We chose Spectra because of their proven technology and solid industry expertise and believe that their wealth management software solutions will provide our advisors with the technology tools they require to better serve our clients,” says Mike Miller, executive vice president, financial services group for Investors Group.
“The Wealthware technology will enable us to provide our financial security advisors with strong, contemporary electronic tools to assist their clients in the design, building and maintenance of effective portfolios,” adds Murray Taylor, senior vice president, retirement and investment services for Great-West and London Life.