This Investment Dealer had acquired four dealers, and was running four separate platforms with the associated costs and operational complexity of multiple systems. The Company needed to consolidate onto a single solution that could meet the diverse needs of operating MFDA and IDA businesses. Further, the solution needed to provide a complete desktop to their advisors, and the flexibility to meet rapidly changing business needs.
The Company selected RPM’s solution to create a single, full-service dealership platform for front and back office operations. The RPM solution operates MFDA and IDA business on one platform and handles investment trading for all dealers.
Highlights:
- MFDA and IDA business operations have been consolidated onto one RPM platform, allowing the Dealer to retire multiple back office systems.
- The platform administers GICs, Equities, Mutual Funds, Segregated Funds, Fixed Income and Cash held within Non-Reg, RRSP, LIRA, RRIF, LRIF, LIF, PRIF and RESP accounts.
- Account and investment processing is automated for both advisors and the back office, reducing manual processing.
- 96% of orders are processed straight through without head office involvement or intervention, reducing costs and increasing efficiency.
- Rules-based validation ensures transactions meet business and legislative requirements in advance of trade execution. This improves customer service and eliminates error handling