Bisys Group has bought the rest of CoreLink Resources Inc., a Concord, Calif.-based broker-dealer.
Little Falls, N.J.-based Bisys had owned 49% of CoreLink since 1995. Last week it bought the remainder. Terms were not disclosed.
CoreLink will operate as part of Bisys Investment Services Group, which is led by Charles J. Mohr. Mr. Mohr joined Bisys this month as a group president.
CoreLink is a third-party marketer catering to the banking industry; it offers investment products to customers at 80 banks in the United States. Bisys, a financial services technology provider, has captured a large share of the fund servicing business among U.S. banks, with 85% of the $200 billion of assets it administers coming from that sector.
Mr. Mohr said Bisys and CoreLink plan to offer a "pretty sophisticated" mutual fund wrap allocation product shortly.
"We would sell that into all marketplaces," said Mr. Mohr. But "obviously we would pay a lot of attention to our existing bank clients."