On the Workbench at ADP: Aggregation and Breakpoints

Michael Ford at ADP Securities Industry Software agrees that aggregating many functions into one interface is something most broker/dealer representatives want. ADP already offers some streamlining for its broker/dealer clients, which include Raymond James and LPL, and adds the ability to run a broker/dealer’s back-office system on ADP’s servers.

But the firm constantly looks for other ways to innovate its product offerings for B/Ds. One recent add to its platform, which Ford believes is fairly significant, is offering advisors data to support mutual fund breakpoints. Clients that buy mutual fund shares in larger volumes are often offered discounts on the load or sales charge. ADP has started to aggregate that data so it’s accessible from its platform, making it easier for reps to know which mutual funds allow breakpoints and what those discounts are per volume, without having to troll across the Web for the information. “You want to make sure clients get in at the lowest possible price points,” he says.