Digital Digest: The Latest Tech News - RBC Wealth Management-US, Broadridge

Editorial Staff

3 August 2021

RBC Wealth Management-US and New York-listed Broadridge Financial Solutions has announced that RBCWM will use the Broadridge Wealth Management Platform to power its business.

The platform offers a front-to-back-office solution. As part of this multi-year agreement, RBCWM will also shift to Broadridge's next-generation asset servicing platform, the firms said in a statement.

RBCWM has also integrated Salesforce and Addepar into its business to give advisors better client insights, performance reporting and portfolio management tools to serve clients' needs quicker and more easily.

"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 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," Michael Armstrong, CEO of RBC Wealth Management-US, said.

The Broadridge platform is an open-architecture offering. Advisory features include performance reporting, managed accounts support and sleeve accounting; multi-market order management and trade routing; and full back-office functionality to handle multi-currency, global clearance and settlement, asset servicing, and integrated workflow across the entire enterprise to accelerate client onboarding and other key functions.