(PRWEB) September 26, 2012
Envision Financial Systems, Inc., a leading provider of real-time technology solutions to the mutual fund and college savings plan industries, today announced the State of Tennessee has selected Envision to be its technology partner. The State will use the PowerAgent 529 shareholder recordkeeping system and its integrated shareholder Internet account inquiry and trading portal, PAWeb, to support its newly-created college savings plan, the Tennessee Stars College Savings Plan. The State will use the Envision product suite via a Software as a Service delivery model.
The State of Tennessee decided to work with Envision after a comprehensive review of the college savings plan shareholder accounting technologies and services available in the market. The State of Tennessee was looking for a product that would support their newly- created college saving plan, the Tennessee College Savings plan through all phases of their strategic growth plans and bolster their technology capability through a hosted solution allowing them to focus on growing and supporting the plan.
“The Tennessee Treasury Department is pleased to have Envision as our partner to support the administration of our new college savings plan. We were impressed by the technology offered by the PowerAgent529 and the PAWeb system, including the intuitive nature of the system, the real-time access to account information, and the customer self-service features of the system” said Tennessee State Treasurer David H. Lillard, Jr.
“We are very pleased to have the State of Tennessee use both PowerAgent529 and PAWeb to help the residents of Tennessee save for their children’s college education” says Brian Jones, Executive Vice President of Envision. “By utilizing the Envision product suite, the State will establish operational efficiencies while simultaneously providing the plans investors real-time communication and access to account information.”
Parents may purchase the Tennessee Stars College Savings Plan directly by calling the State or opening an account on-line at the TN Stars 529 College Savings Plan website website. The plan provides:
- Electronic Transfer and Direct Deposit from multiple sources
- Flexible investment options including self-selection, target date options based on when funds will be needed for college, an FDIC insured option and risk-based options.
- Diversified investments options including passive and active equity funds across the domestic market cap spectrum, passive fixed income, high yield, developed and emerging international funds and cash.
- Versatile web based applications that allow ACH contributions, Contributions by Payroll deductions, Rollover. Account Change, Transfer of Investment Options, Change of Beneficiary, Termination, etc.
The PowerAgent529 shareholder recordkeeping system supports direct and advisor distributed plans, has integrated basis and earnings capabilities, workflow and imaging; internet inquiry, trading and e-delivery. Envision also offers a trade monitoring application, for Rule 22c-2 requirements, that work with any recordkeeping platform. Using real-time open industry standard technology, configurable business rules and a customer-centric interface, PowerAgent users have significantly increased efficency and service quality.
About Envision Financial Systems
Founded in 1994, Envision Financial Systems, Inc. is a leading provider of real-time shareholder accounting software solutions to the mutual fund and financial services industry. Using in-depth knowledge of the industry and listening to its customers, Envision provides its clients with real-time access to data that optimizes productivity, increases customer satisfaction and enables emerging business needs. Envision’s headquarters are in Irvine, California, with offices in Owings Mills, Maryland and Bangalore, India. For more information, visit our website.
Envision Financial Systems Contact:
(714) 247-0030; extension 124
State of Tennessee