RBC to Roll Out SunGard’s WealthStation Integrated Platform to Registered Investment Advisors and Correspondents

Clearing and custody providers RBC Correspondent Services and RBC Advisor Services, divisions of RBC Capital Markets Corporation will implement SunGard’s WealthStation to provide RBC’s correspondent firms and registered investment advisors (RIAs) with an integrated wealth management platform that enhances their ability to acquire, service and grow their client relationships. RBC will roll out the SunGard platform, private-labeled “RBC WealthStation,” to its correspondent and RIA firms across the U.S.,

RBC WealthStation will help RBC’s correspondents and advisors view holistic account information and respond quickly to specific client needs, helping advisors grow their businesses and compete for new clients. Traditionally, advisors use separate functional tools for client relationship management, asset allocation, financial planning and trading. As an integrated platform, WealthStation helps advisors gain productivity and efficiencies in order to provide consistent and comprehensive offerings to their clients.

Craig Gordon, director of RBC Correspondent Services and RBC Advisor Services said, “Our correspondents and advisors require a more productive, interactive and fluid environment in order to grow their practices. RBC WealthStation integrates best-of-breed capabilities to provide them with a comprehensive and streamlined process on one platform, while offering the flexibility to choose only the tools they want to use. RBC WealthStation will help eliminate the administrative tasks of reconciling data and integrating systems, giving advisors the ability to simplify their use of technology and provide more value to their clients.”

In the first implementation phase, RBC’s correspondents and RIAs will use RBC WealthStation’s integrated capabilities for account retrieval, trading, and client reporting. In addition, RBC WealthStation will integrate with RBC’s back-office clearing and custody platform to provide a seamless front- to back-office account management and clearing process. In the coming months, RBC will add WealthStation’s financial planning, asset allocation and proposal generation capabilities to the integrated platform.

Kevin Rafferty, president of SunGard’s wealth management business, said, “In the race for assets, an advisor’s key differentiator is superior service, best delivered through flexible technologies that help advisors grow, support and service their clients as well as, help them spend more of their time on client-facing, value-added activities. By bringing multiple processes together in one seamless environment, WealthStation provides client and account activity dashboards, intuitive workflows through each step, and data sharing across applications to help streamline processes and improve advisor productivity.”