BIRMINGHAM, Ala.--(BUSINESS WIRE)--As part of its efforts to expand financial management solutions for affluent individuals and institutional clients, Regions Bank has signed an agreement naming Prudential its provider of an integrated wealth technology platform.
Through the Regions Open Architecture solution, Regions Wealth Management clients can now enjoy access to premier investment managers combined with the expertise and personalized service they have come to expect from Regions Wealth Management.
“As we continue to expand our wealth management solutions we are pleased to introduce the latest in portfolio management and technology to help our clients meet their financial goals,” said Bill Ritter, senior executive vice president and head of the Regions Wealth Management Group. “Through Prudential Wealth Management’s open architecture solution, our clients can select from among the industry’s premier investment managers while continuing to benefit from the local expertise and service provided by Regions.”
Under the terms of the agreement, Regions will implement new overlay portfolio management technology and desktop tools, and leverage the investment research services, performance reporting and sales support, offered by Prudential Wealth Management Solutions (“WMS”).
“Our portfolio management, workflow and consulting services help equip wealth management organizations to more effectively deliver their objective investment advice while meeting the unique needs of individual clients,” said Gavin Spitzner, senior vice president of Business Development of WMS.
WMS provides services to help financial firms envision, design, and implement their wealth management offerings and help optimize their workflow to improve growth and profitability. Its distinct approach combines an integrated wealth platform, research services, and development to deliver holistic investment solutions for wealth management challenges, aligning itself with the Regions Wealth Management goal of providing comprehensive, unbiased wealth management solutions.
“As Regions Bank continues to grow its Wealth Management business, this partnership will further enable them to deliver a consistent and compelling client experience,” said John Yackel, senior vice president and director of Business Development, Sales and Relationship Management of WMS. “Regions Bank is well positioned to deliver a distinct investment experience to its clientele. They have established a clear vision and I’m excited to work with Regions to meet the needs of their clients.”
About Prudential Wealth Management Solutions
Prudential Wealth Management Solutions provides services to help financial firms envision, design, and implement their wealth management offerings and help optimize their workflow to improve growth and profitability. Its distinct approach combines an integrated wealth platform, research services, and advisor development to deliver holistic investment solutions for wealth management challenges. More information is available at http://www.prudential.com/wms.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $1.005 trillion of assets under management as of September 30, 2012, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.news.prudential.com.
About Regions Financial Corporation
Regions Financial Corporation (NYSE: RF), with $122 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, mortgage, and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,700 banking offices and 2,100 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.
Wealth Management Solutions is a division of Prudential Investments LLC, Newark, NJ, a Prudential Financial company. Prudential Investments, Prudential, the Prudential logo, Bring Your Challenges and the Rock symbol are service marks of Prudential Financial, Inc., and its related entities, registered in many jurisdictions worldwide.
Additional information can be found in the Regions Open Architecture Program Disclosure Statement, which is available by request. S&P 500 Index consists of 500 of the largest U.S. stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index with each stock’s weight in the Index proportionate to its market value. Investors cannot invest directly in an index.
Investments are not FDIC-insured, not deposits of Regions Bank or its affiliates, not guaranteed by Regions Bank or its affiliates, not insured by any government agency, and may go down in value. Trust and investment management services are offered through Regions Private Wealth Management and Regions Institutional Services, both divisions of Regions Bank.