BlueSun Inc.

July 11, 2012 12:04 ET

HUB Financial Consolidates Life and Investment Business on WealthServ

BURLINGTON, ONTARIO--(Marketwire - July 11, 2012) - Managing insurance, segregated and mutual funds products has required MGA's to run two back-office systems resulting in elevated cost, complexity and prevented a clear view client information.

WealthServ now offers one system to enforce compliance and processing rules required for the differing products and provide a complete picture across their organization through consolidated reports and dashboards.

"Through discussions with clients, we realized that it was really painful for them to purchase, operate and support two different systems and made it difficult to give advisors a consolidated view of their client's business." explained Simon Tomlinson, CEO of BlueSun. "With the combined system, MGAs are able to cut costs significantly without compromising the quality or breadth of functionality of their system. We've been told a system consolidated across product lines is the Holy Grail for MGAs."

Terri DiFlorio, HUB Financial President explained that despite the cost savings, the decision to consolidate was not easy. "We know from experience that migrating from one system to another is never pleasant. However, from experience we were confident WealthServ had the expertise and would take the necessary care to pull it off. We are 90% of the way through the migration and so far it has been completely painless".

HUB Financial is an MGA for over 3,000 independent life insurance and general agents in Canada. A subsidiary of HUB International, an international brokerage providing a broad range of products and services through offices across North America.

BlueSun is a leading provider of integrated back and front-office solutions for wealth management distributors across North America. WealthServ is the most connected back-office system with automated data links to Carriers, FundServ and Parameds.

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