Platform marks a milestone in the integration of MRS Companies
TORONTO, Sept. 11, 2012 /CNW Telbec/ - B2B Bank is pleased to announce the launch of its new mutual fund and investment dealer services: B2B Bank Dealer Services, designed to deliver efficient investment account administration and services to the Canadian investment community. This launch of B2B Bank's dealer platform follows its recent acquisition of the MRS Companies1 and leverages their 30 years of experience serving dealers and investors.
Three firms will operate under the new B2B Bank Dealer Services banner:
- B2B Bank Financial Services Inc., a mutual fund dealer and member of the Mutual Fund Dealers Association of Canada (MFDA);
- B2B Bank Securities Services Inc., a securities dealer and member of the Investment Industry Regulatory Organization of Canada (IIROC) and Canadian Investor Protection Fund (CIPF); and
- B2B Bank Intermediary Services Inc., a mutual fund dealer registered with the Autorité des marchés financiers, the financial services regulatory body in Quebec.
"We are excited about B2B Bank Dealer Services, says François Desjardins, CEO of B2B Bank. "This marks a milestone in our integration of MRS Companies into B2B Bank. Our investment account platform is central to our ability to provide advisors with the accounts and services they need to help their clients build and manage their wealth."
B2B Bank Dealer Services ranks among the top providers of services to the Canadian financial and investment advisor community. The platform provides investors, advisors and dealers with account administration, clearing and settlement services and comprehensive reporting capabilities across a wide range of registered and non registered accounts. In addition, independent dealers can gain efficiencies by outsourcing many of their current back office functions to B2B Bank Dealer Services platform.
Investors, advisors and group plan administrators also benefit from convenient online account access and tools that provide improved reporting and increased control and flexibility to help them monitor and manage their portfolios all in one place.
- Investor Access - provides online access for investors to account balance and transaction information, eDelivery of statements and confirmations, and up to seven years of account history, tax receipts, and more;
- Advisor Access - provides advisors and dealers with a secure online trading platform and detailed reporting on client accounts, transactions and confirmations;
- Group Access - is an online group plan member administration system to simplifying one-time and recurring, contributions to individual plan member accounts.
"B2B Bank Dealer Services adds a new dimension to our Bank, adds François Desjardins. This addition to our business model demonstrates the continuing commitment to advisors and dealers by providing the investment accounts and services their clients need and demand."
When the integration is complete, almost 320,000 client accounts will be on the system, holding more than $30 billion in registered and non-registered investments from cash, GICs and mutual funds to exchange-traded securities.
About B2B Bank
B2B Bank is a Canadian leader in providing banking products to more than 27,000 financial advisors and brokers. Through the advisor and broker channels, it offers a broad range of products and services to consumers including, investment and RRSP loans, mortgages, GICs, banking services, and investment accounts. B2B Bank has been proudly dedicated to, and 100% focused on, serving the needs of advisors and mortgage brokers for more than a decade. A wholly-owned subsidiary of Laurentian Bank of Canada, it is a member of the Canada Deposit Insurance Corporation (CDIC). As a Schedule I Canadian bank, B2B Bank offers innovative products and solutions that help advisors and brokers build a different and more rewarding banking experience for their clients. More information about B2B Bank is available at b2bbank.com.
1M.R.S. Inc., M.R.S. Securities Services Inc., M.R.S. Correspondent Corporation and M.R.S. Trust Company
SOURCE: LAURENTIAN BANK OF CANADA
Senior Manager, Medias and Public Relations
B2B Trust / Laurentian Bank
514 284-4500, extension 8232