MINNEAPOLIS and NEW YORK, July 29, 2021 /PRNewswire/ --
RBC Wealth Management-U.S. (RBCWM) and Broadridge Financial
Solutions, Inc. (NYSE:BR), a global Fintech leader, announced today
that RBCWM will utilize the Broadridge Wealth Management Platform
to power its growing U.S. business.
Broadridge's next-generation Wealth Management Platform is an
open, industry-level platform offering an integrated and modern
front-to-back-office solution, leveraging best-in-class technology.
The platform enables wealth management firms and their advisors to
drive their business to the next level by creating a better client
experience, improving advisor productivity, and digitizing the
back-office. As part of this multi-year agreement, RBCWM will also
be migrating to Broadridge's next-generation Asset Servicing
platform.
The move, part of RBCWM's multi-year technology transformation,
represents the latest in a series of investments in
state-of-the-art, third-party Fintech tools and services. The firm
has also integrated Salesforce and Addepar into the business to
give advisors better client insights, performance reporting and
portfolio management tools to more quickly and more easily serve a
client's needs.
"We've been on a multi-year journey to digitize our business and
drive value not only for our clients, but for our nearly 2,100
advisors. The end-goal to which is a modernized platform that is
competitive in the market, innovative, flexible and scalable yet
provides a best-in-class, simple and intuitive client experience,"
said Michael Armstrong, CEO of RBC
Wealth Management-U.S. "Leveraging the Broadridge Wealth Management
Platform enhances the capabilities we've recently added with other
Fintech solutions and will enable us to increase advisor
productivity, enhance our client experience, and grow our business
in the U.S. with a scalable, cost-efficient service model."
"We are excited to have RBC Wealth Management-U.S. join our
industry leading wealth platform to optimize productivity for
advisors, create richer experiences for clients, and digitize
enterprise-wide operations," said Tim
Gokey, CEO of Broadridge. "As we renew and expand our
relationship, we look forward to continuing to work with RBC to
innovate and win amidst accelerating changes in wealth and
investment management."
The Broadridge Wealth Management Platform is open architecture
powered by state-of-the-art APIs and micro-services that facilitate
seamless connectivity to a client's proprietary and third-party
applications. The platform includes a modernized advisor desktop
and customizable tool set. Key advisory features include
performance reporting, managed accounts support and sleeve
accounting; multi-market order management and trade routing; and
full back-office functionality that handles multi-currency, global
clearance and settlement, asset servicing, and integrated workflow
across the entire enterprise to accelerate client on-boarding and
other key functions.
About Broadridge
Broadridge Financial Solutions
(NYSE: BR), a global Fintech leader with over $4.5 billion in revenues, provides the critical
infrastructure that powers investing, corporate governance, and
communications to enable better financial lives. We deliver
technology-driven solutions to banks, broker-dealers, asset and
wealth managers and public companies. Broadridge's infrastructure
serves as a global communications hub enabling corporate governance
by linking thousands of public companies and mutual funds to tens
of millions of individual and institutional investors around the
world. In addition, Broadridge's technology and operations
platforms underpin the daily trading of on average more than U.S.
$10 trillion of equities, fixed
income and other securities globally. A certified Great Place to
Work®, Broadridge is a part of the S&P 500® Index, employing
over 12,000 associates in 21 countries. For more information about
us and what we can do for you, please visit www.broadridge.com.
About RBC Wealth Management – U.S.
In the United States, RBC Wealth Management
operates as a division of RBC Capital Markets, LLC. Founded in
1909, RBC Wealth Management is a member of the New York Stock
Exchange, the Financial Industry Regulatory Authority, the
Securities Investor Protection Corporation, and other major
securities exchanges. RBC Wealth Management has $500 billion in total client assets with more
than 2,000 financial advisors operating in 180 locations in 42
states.
Broadridge Investors:
W. Edings Thibault
Investor Relations
(516) 472-5129
Media:
Gregg
Rosenberg
Broadridge Corporate Communications
Gregg.Rosenberg@Broadridge.com
(929) 288-0774
Nicole Garrison
RBC Wealth Management Corporate Communications
Nicole.Garrison@rbc.com
(612) 371-2999
View original content to download
multimedia:https://www.prnewswire.com/news-releases/rbc-wealth-management-us-accelerates-digital-transformation-with-selection-of-new-broadridge-platform-301343988.html
SOURCE Broadridge Financial Solutions, Inc.