An executive at SunTrust Banks Inc. said he expects its new unified managed account platform to draw customers and help it double its assets under management within the next half-decade, but one analyst says it could be an uphill climb for the Atlanta company as it goes up against more established players.

ClearSight, which SunTrust launched last month, allows advisers to offer an array of investment products through a single account. Andy Muldoon, an executive vice president for SunTrust and the head of personal asset management at its private wealth management arm, said ClearSight lets clients customize a portfolio with increased control, tax management, access to proprietary and nonproprietary managers, and simplified portfolio reporting. He said the platform should contribute to an increase in the asset base at SunTrust, which has $32 billion of assets under management.

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