The wealth manager will use Broadridge's Dataphile securities processing and advisor desktop platform as it converts its brokerage arm, Credential Securities, to IIROC (Investment Industry Regulatory Organization of Canada) self-clearing.
The move provides Credential more flexibility as it develops product offerings, and will also be backed by Broadridge Canada's Smart Document Fulfillment solution, which automates transaction confirmation and regulatory documents that are required under Canadian point-of-sale rules.
"Self-clearing provides Credential with a competitive advantage by enhancing our service offering to clients and maximizing revenue opportunities. Broadridge brings deep-bench strength in brokerage technology services and domain expertise along with an already robust client base, which provides the necessary level of scale from day one. They're providing their expertise so we can execute on ours," says Doce Tomic, Credential's CEO.
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