Wells Fargo & Co., San Francisco, said last week it has retained a local technology firm, Advent Software, to provide systems to its private client services unit.
The first system, Axys, will assist asset managers in measuring customers' portfolio performance and asset allocation. Another, dubbed Moxy, will monitor trading restrictions on investors' accounts, said Lisa Church, a senior vice president of marketing and new business at Advent.
Moxy will allow Wells Fargo to assess portfolio "composition restrictions," imposed by investors, said Ms. Church. Wells Fargo will be able to keep track of customers' desire for certain securities weightings.
A third product, WebView, allows banks to file financial reports to a "secured Web site," which they can permit asset managers or clients to enter. Wells Fargo, however, does not plan to give customer access to WebView immediately, said Ms. Church.
Advent is also providing the bank with a product called Rex, a reconciliation system that will allow Wells Fargo to compare transactions with its internal trust accounting system, she said.
Ms. Church said the deal was struck last week and the products would be in place late next year. Advent provides similar products to roughly 100 banks, she said.
Wells Fargo Private Client Services actively manages more than $56 billion in mutual funds and private assets for upper-end investors.