RBC Wealth Management picks Broadridge to power US division
RBC Wealth Management, a division of Royal Bank of Canada, has selected Broadridge to power the technology in its US operations.
Broadridge has signed a multi-year deal with the bank
Broadridge is deploying its Wealth Management Platform, which offers an “integrated and modern” front-to-back system.
The vendor says its system is powered by “state-of-the-art APIs and micro services”. The platform includes a modernised advisor desktop and customisable tool set.
Among the advisor services are performance reporting, managed accounts support and sleeve accounting, multi-market order management and trade routing, and full back-office functionality.
The bank is also migrating to Broadridge’s Asset Servicing system as part of the new multi-year deal.
RBC Wealth Management says its selection will factor into an ongoing digital transformation drive involving several third-party firms. This includes Salesforce and Addepar among others.
“We’ve been on a multi-year journey to digitise our business and drive value not only for our clients, but for our nearly 2,100 advisors,” says Michael Armstrong, CEO of the firm’s US operations.
“Leveraging the Broadridge Wealth Management Platform […] will enable us to increase advisor productivity, enhance our client experience, and grow our business in the US.”
