First Data Investor Services Group Inc. said it has been tapped to provide processing services for Wells Fargo & Co.'s asset allocation products.

First Data Investor Services Group is providing record keeping, administration, clearing, and call-center support for Wells Fargo's Portfolio Advisor program. The three-year contract is with Wells Fargo Private Client Services, a unit that includes brokerage, investment management, trust, and private banking.

The San Francisco banking company previously used First Data's computer system but did all the processing in-house, said a spokesman for the Westborough, Mass., mutual fund servicing firm.

First Data Investor Services Group, which services more than $850 billion of assets, is being sold to PNC Bank Corp. of Pittsburgh. It is a unit of First Data Corp. of Atlanta.

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