Broadridge enables Mandeville to process securities and mutual funds on a single platform
Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that Mandeville Wealth Services Inc. ("Mandeville"), a new member of the Mutual Fund Dealers Association of Canada ("MFDA"), and Mandeville Private Client Inc. ("Mandeville"), a member of the Investment Industry Regulatory Organization of Canada ("IIROC"), will be powered by Broadridge's Dataphile securities processing and advisor desktop platform. Although securities and mutual fund dealers are separately regulated entities, Broadridge's Dataphile solution has the unique capability to support both businesses on a single platform, which will help Mandeville to effectively grow its new businesses and achieve enterprise-wide efficiencies and scalability.
"Mandeville chose to partner with Broadridge for its depth of experience and because Broadridge's Dataphile solution is the only platform in Canada that effectively supports both MFDA and IIROC businesses," said Michael Lee-Chin, Founder and Chairman of Mandeville Holdings Inc. Mr. Lee-Chin formed the Canadian dealers with a commitment to make private investment opportunities, which are typically reserved for affluent and institutional investors, more accessible to individual retail investors. "As a wealth management organization, focusing on our clients, growing our business and operating as efficiently and effectively as possible, are our key priorities. Broadridge's securities processing and advisor desktop solutions will support each of those priorities as well as our mission to create and preserve wealth."
Broadridge's platforms have supported processing of both securities and mutual funds in Canada for over 30 years. The financial services market is increasingly complex with changing regulations, heightened legal and compliance issues, and sophisticated clients with complicated demands. The ability to process on a single platform can significantly increase a company's ability to respond promptly, and potentially reduce risk and costs.
"The financial services industry is transforming at a rapid pace. Companies require smart solutions to allow them to bring products to market quickly and to help them meet increasingly stringent regulatory demands," said Michael Dignam, President, Broadridge, Canada. "Broadridge is committed to partnering with our clients and providing them with the technology and processing solutions to succeed and differentiate themselves in this changing environment."
The Mandeville partnership with Broadridge was established in 2012, and the successful implementation of the securities processing and advisor desktop solutions was completed in the spring of 2013.