The solutions will act as a foundation to Worldsource’s end-to-end business processing platforms, in a bid to improve operational efficiency and mitigate risk across the investment lifecycle.
Broadridge’s Dataphile platform will be integrated into the back-office systems, introducing automated client onboarding and pre- and post-sale regulatory and marketing communications.
Michael Dignam, president of Canadian securities processing solutions at Broadridge, said: "Leveraging our market-leading wealth management platform, Broadridge has developed innovative desktop solutions for advisors that connect the upstream and downstream process, to help clients drive better business performance.”
He added: “We are focused on utilising next-generation technology to help clients, and the industry, get ahead of today’s challenges to capitalise on what’s next.”
John Hunt, president and CEO of Worldsource Financial Management and Worldsource Securities, said: “Worldsource has a singular focus: to provide sophisticated and comprehensive support to independent advisors across Canada. Broadridge’s integrated solutions are important tools that will enhance this aim.”
Broadridge has also partnered with Canadian digital investment service Wealthsimple, to provide an automated investment management service supporting advisor-investor and direct-to-investor models.
The partnership is intended to improve efficiency in clients’ onboarding, compliance and account transfer capabilities.
Dignam said: “Our wealth solutions have the unique capacity to support both securities and mutual fund dealers, on a single platform, even though they are separately regulated entities in Canada.”