TORONTO, March 21, 2013 /CNW/ - Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that Credential Securities Inc.'s conversion to a self-clearing IIROC (Investment Industry Regulatory Organization of Canada) brokerage firm will be powered by Broadridge's Dataphile securities processing and advisor desktop platform. Broadridge's unique, customizable and scalable solution provides Credential with greater control over their online and full service businesses and facilitates their continued growth.
Credential's move to self-clearing provides greater control and more flexibility to expand their investment product offerings to their partners.
"Self-clearing provides Credential with a competitive advantage by enhancing our service offering to clients and maximizing revenue opportunities," said Doce Tomic, President and CEO, Credential. "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 provide their expertise so we can execute on ours."
Broadridge's solution can be deployed in its entirety or in key strategic components on a turnkey basis.
"Broadridge is committed to partnering with our clients and providing them with the technology and processing solutions that will help them grow their businesses. Credential is a great example of a company evolving their business model to gain a competitive advantage," said Michael Dignam, President, Broadridge, Canada.
In addition to implementing Broadridge's Dataphile solution to power their self-clearing brokerage offering, Credential also selected Broadridge Canada's Smart Document Fulfillment solution. This automated data processing and document delivery service for post-sale fulfillment of transaction confirmations and regulatory Fund Facts and Prospectus documents, facilitates Credential's compliance with Point-of-Sale (POS) regulations.
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge's investor communications, securities processing and operations outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $4.5 trillion in fixed income and equity trades per day. Broadridge employs approximately 6,200 full-time associates in 13 countries.
For more information about Broadridge, please visit www.broadridge.com.
About Credential Financial Inc.
Credential Financial is a national wealth management firm, with over 20 years of experience in the Canadian financial services industry, offering a full suite of products and services to over 225 organizations and more than 1,300 advisors. Credential and its member companies (Credential Asset Management, Credential Securities, Credential Direct, and Credential Insurance Services) provide MFDA and IIROC dealer services, online brokerage, and insurance solutions to credit unions and independent financial institutions across Canada. For more information, visit www.credential.com.
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Kelly M. Howard