RBC Wealth Management, a boutique advisory firm with an established national presence and a growing presence globally, has gone live on Broadridges Brokerage Processing Services (BPS) platform, expanding the strategic relationship between the two companies.
RBCs custom-designed application incorporates a multitude of Broadridges services and products to support and enhance its extensive global retail and institutional businesses.
Broadridges tailored platform allows RBC to merge its two distinct operations onto one platform, creating multiple in-house efficiencies, as well as greater ease of use for staff and clients.
Newly live upgrades such as a new managed account workstation on advisor desktops and the commission-tracking tools will allow RBCs wealth management team to work more efficiently and add value to client relationships. The move to a single platform supports the firms multi-entity, multi-currency businesses while delivering back-office efficiencies that are fully integrated with RBCs proprietary front-office product and service offerings.
“Broadridge was the only firm that could provide a range of solutions with the functional breadth to address our expanding business objectives as well as enable us to consolidate our global retail and institutional operations. This platform is exactly the solution that will help us to create the enhanced offerings our management team and clients demand. We firmly believe that our strategic relationship with Broadridge will enable us to move our securities business forward in the fashion we desire, while uniting our global retail and institutional business on one consolidated platform,” says John Taft, head, RBCs US Wealth division.
“We are pleased to expand our relationship with RBC and are extremely proud that together, we had the ability to develop this comprehensive, end-to-end solution that RBC needed to support both their retail and institutional business. As a result of our relationship, RBC will be able to consolidate the operations of its two US broker-dealers onto one platforma move that will add efficiency, increased functionality and enhanced service offerings while reducing costs throughout their operations,” adds John Hogan, president and COO, Broadridge Financial Solutions, Inc.