Within Black, RBC has bundled five leading financial services technology providers – Redtail, CircleBlack, Riskalyze, Vestmark and MoneyGuidePro – into one simple, intuitive platform.
Black contains a full menu of wealth management solutions developed by its technology partners. CircleBlack provides client account aggregation and portfolio analytics and Redtail provides customer relationship management. Riskalyze provides risk alignment tools, MoneyGuidePro provides financial planning tools, and Vestmark provides trading and rebalancing tools.
Accessible through a single login, on most devices, Black is offered to RBC’s clearing and custody clients. The platform costs $175, which is 80% less than the sum cost of purchasing each technology separately, according to RBC.
“The Black platform truly addresses the needs of our independent broker-dealers and registered investment advisor clients,” said Brett Thorne, head of RBC Correspondent Services and RBC Advisor Services. “The world of financial services along with technology is rapidly changing. We wanted to build an exclusive advisor platform to help our firms and their advisors realize opportunities, gain efficiencies and thrive in this new environment.”
The integrated applications on Black allow advisors to streamline client interaction, while offering a wider array of capabilities.
“CircleBlack worked closely with RBC to design and build Black specifically for RBC's clearing and custody clients,” said John Michel, CEO of CircleBlack. “Black is a cutting edge platform, built on the latest scalable web technologies and seamlessly enables secure data flow between all the partners.”
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