Short Takes: Jones, ADP Using 1st Data Shareholder System

First Data Corp.'s mutual fund and distribution services unit has taken on two new clients, Edward Jones & Co. and ADP Brokerage Services Group.

Edward Jones, the St. Louis-based retail brokerage, had been a client of Funds Associates Inc., a Berwyn, Pa., data management company bought in September by First Data Investor Services Corp. In March the brokerage started using First Data's mutual fund shareholder accounting system, called Surpass, for transfer agency and subaccounting support.

The Surpass system provides trade processing, tax reporting, costs statements, confirmations, asset performance, and commission and sales tracking for mutual funds and other investments.

New Jersey-based ADP Brokerage uses the Surpass system on behalf of its brokerage clients for order entry and reconciliation on trades and settlements on mutual funds.

- Compiled by Katharine Fraser

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