Cuso Financial Services and Sorrento Pacific Financial live as first client

(COSTA MESA, CA, September 28, 2017) – Envision Financial Systems, Inc. and U.S. Bancorp Fund Services, LLC, announced today the launch of FundKeeper, a new mutual fund account servicing platform. The first FundKeeper clients are CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), sister broker-dealers and Registered Investment Advisors (RIAs) with more than 500 registered representatives nationwide. CFS/SPF went live with the FundKeeper platform in August, having fully integrated FundKeeper into their existing systems.

FundKeeper brings financial intermediaries a new approach to supporting mutual-fund-only investor accounts. Traditionally, intermediaries have held these accounts directly with mutual fund families—and suffered business inefficiencies and lack of control. Or, they’ve been forced to “go to traditional brokerage” with accounts unsuited to conventional brokerage fees and complexity. FundKeeper is an alternative to both these options. FundKeeper provides access to more than 16,000 funds with a largely ‘all electronic’ mutual fund experience allowing financial intermediary firms to enhance up front compliance and eliminate the need for back end consolidation of their clients’ mutual fund holdings. This can help them comply with the Department of Labor (DOL) Fiduciary Rule and help increase customer satisfaction. Benefits of FundKeeper include:

  • A single mutual fund experience for clients and reps across management companies: one web and mobile interface and consolidated statements.
  • Financial intermediary firms enhance controls with the ability to select the funds their representatives have access to, set up parameters to determine investor suitability, leverage automated breakpoint calculations, and gain easy access to position and activity data.
  • A lower cost solution for mutual fund only investors that eliminates unneeded wire house brokerage system capabilities and associated brokerage fees.
  • Better economics for the intermediary firm by streamlining mutual fund processing and support.
  • Integration with intermediaries’ existing software to provide a rep and client experience to mitigate operational change associated with introducing new offerings.
  • Dramatically reduced dependency on mail and physical checks through modern, electronic alternatives.

“We are delighted to expand our offerings to the financial intermediary market to help broker-dealers and RIAs better serve mutual fund investors, simplify account openings and streamline shareholder servicing,” said Ian Martin, Executive Vice President at U.S. Bancorp Fund Services.

Brian Jones, Executive Vice President of Envision, said, “By combining Quasar Distributors mutual fund trading, U.S. Bancorp Fund Services back office operations, and Envision’s PowerAgent technology, the collaboration between our firms can transform intermediaries’ ability to support the mutual fund only investor. Our goal with FundKeeper has been to solve the longstanding business problems faced by many financial intermediaries as they struggle with hassle, expense, or both when managing mutual fund accounts.”

“We’re proud to be the first firm to customize and integrate FundKeeper into our existing systems because it is an efficient, cost-saving option that is both advisor and client friendly. Our investment programs appreciate that it’s an easy, transparent, and compliant platform for processing and managing their clients’ mutual fund accounts,” said Valorie Seyfert, President and CEO of CFS/SPF. “We recently launched our customized version, which we branded as fundVISION™, and have already gotten some great feedback on the new process. It helps our representatives better serve their clients—while eliminating many all-too-familiar aggravations from account opening and management.”

About Envision Financial Systems, Inc.

Founded in 1994, Envision Financial Systems, Inc. is a premier provider of real-time mutual fund recordkeeping technology and outsource solutions. Using in-depth knowledge of the industry and listening to its customers, Envision’s solutions enable firms with subaccounting needs to consolidate and control investor activity, increase representative and investor satisfaction, and help mitigate operational and economic risks. Envision supports over 420 investment companies, comprised of over 11,700 CUSIPS representing over $2.2 trillion is client assets.  Envision’s headquarters are in Costa Mesa, California, with offices in Owings Mills, Maryland, Denver, Colorado and Bangalore, India. For more information, visit our website.

About U.S. Bancorp Fund Services, LLC

Headquartered in Milwaukee since 1969, U.S. Bancorp Fund Services LLC provides single-source solutions to support a variety of investment strategies and products including mutual funds, alternative investments, open-end, closed-end, and exchange traded funds. The division currently services 552 fund families comprised of 3,341 portfolios, 4,169 fund classes, and 3.3 million shareholder accounts with $985 billion in client assets. U.S. Bancorp Fund Services is a subsidiary of U.S. Bank, the fifth largest commercial bank in the United States. Visit U.S. Bancorp Fund Services on the web at

Envision Financial Systems, U.S. Bancorp Fund Services, LLC and its affiliate Quasar Distributors, LLC have come together to offer FundKeeper.

Envision Financial Systems, Inc.
John Gray
(949) 579-9193

Investment Products:
Are NOT insured by the FDIC or any other federal government agency; Are NOT deposits of or guaranteed by the Bank or any Bank affiliate; MAY Lose Value.

Quasar Distributors, LLC, Member FINRA, SIPC

U.S. Bank does not guarantee the products, services or performance of its affiliates and third party providers.