To expand both companies investment management platforms and open new distribution channels, Atlanta-based Reliance Trust Co. and GlobalBridge Inc., a Minneapolis-based provider of managed account services to trust companies, banks and wealth advisors, announced Friday an agreement to jointly develop, sell and support managed investment account services, using GlobalBridge’s unified managed account technology. 

Through the partnership, Reliance will gain access to GlobalBridge’s technology and sales experience through banks and GlobalBridge will be able to use Reliance’s investment management, trust and custodial products and services.

GlobalBridge hopes that the alliance will open the door to independent investment advisors, independent broker-dealers and banks that have existing custodial relationships, but want to enhance the investment products that they offer to retail customers.

The venture also allows GlobalBridge and Reliance Trust to partner with major custodial providers to offer private labeled investment management services to clients.

This also gives Reliance access to a UMA portfolio overlay management, order management, manager data collection, performance reporting and proposal generation capabilities. The firms will now offer access to 100 plus separate account managers, managed mutual fund and exchange-traded fun programs, as well as an open architecture list of mutual funds. 

Reliance is a privately-held, financial services and wealth management company with more than $70 billion in assets under management and administration.