Wilco says Edward Jones Limited has upgraded to version 3 of Wilco’s Tarot retail broking and private client investment system for its UK operations. This further extends the relationship between Wilco’s parent, ADP, and Edward Jones. Edward Jones has maintained a long-term relationship with ADP for more than 20 years, and recently signed a multi-year contract to continue outsourcing its North American securities transaction processing to ADP.
Edward Jones uses Tarot across its centralised UK back office operations and its growing UK network of approximately 120 branches for the processing of domestic and international equities and collective instruments such as unit trusts. The upgrade will enable Edward Jones to further improve its UK-based international trading capabilities, provide its clients with greater business processing flexibility, and support higher volumes for corporate actions processing.Tarot provides a broad range of brokerage processing for Edward Jones throughout the trade lifecycle from order capture through settlement, accounting and tax reporting. It also provides a full suite of asset management facilities. Allan J. Anderson, Principal United Kingdom, Edward Jones Limited, said: “Tarot provides us with high STP rates across our UK operations, and enables us to support our growth and enhance the service that we provide to our clients.” Amanda Fisher, Wilco’s Product Manager for Tarot, said: “We’re delighted to be supporting Edward Jones’ business growth through the Tarot system, and look forward to continuing to service their STP requirements.”
Edward Jones is the largest financial services and stockbroking firm in the US, in terms of branches, with more than 8,500 offices in the US, Canada and the UK. The firm’s UK affiliate is rapidly expanding with 120 offices open for business throughout the country. The firm has built its success by helping investors meet their long-term financial goals and through personal face-to-face advice. Edward Jones serves individual investors and small businesses exclusively, offering the full range of investments from shares through to life insurance products.