To become truly client-centric, the Wealth Management division of one of Canada’s largest insurance companies needed an MFDA-compliant dealer platform, and a solution to facilitate business processing across proprietary and 3rd party wealth management products.
This Insurance Company selected RPM’s wealth solutions for its back office and licensed advisors.
RPM’s solution provided advisors with real-time access to information and transaction processing. This has increased client satisfaction and service levels. Further, the Company has rationalized processing and systems to realize significant cost reductions.
Highlights:
- Seven separate systems were integrated into a single RPM Open system, providing a common distribution and processing infrastructure across investment channels, products and accounts.
- The platform administers GICs, Mutual Funds, Segregated Funds, Cash held within Non-Reg, RRSP, LIRA, RRIF, LRIF, LIF and PRIF accounts.
- Advisors can process account and investment orders in real-time, with business and product rules validated prior to executions. This improved the customer service experience and turn-around time
- A "once and done" electronic processing model resulted in drastic reductions to administrative and back office costs.
- New products have been launched in months, and without the need for costly systems modifications as with predecessor systems
- Systems rationalization allowed the Company to realize significant operational cost reductions.