Two broker-dealers have introduced software to their advisors over the past week that could boost the reps’ performance: Commonwealth Financial rolled out a new trading platform on Tuesday, while Raymond James (RJF) shared a new financial-planning tool last Friday with its reps.
Client360° Trading, being introduced by Commonwealth to its more than 1,400 independent reps, allows advisors to send trades straight through to Commonwealth or to its clearing firm, Fidelity’s National Financial Services.
“This fast, efficient and intuitive trade engine offers our financial advisors a better way to conduct this core aspect of their daily businesses,” said Darren Tedesco, managing principal of innovation and strategy for Commonwealth, in a press release. “Users can create, modify, submit and monitor trades, receiving up-to-the-minute status on orders without delay; this is all done within the confines of the portfolio accounting and CRM system.”
Advisors can use the trading tool for individual accounts and entire households. It gives them access to intraday positions and balances, real-time pricing, non-brokerage account information and more.
“In order for Client360° to remain the most sophisticated and comprehensive total client management system in the financial services industry, it needs to contain tools that enhance a practice’s overall efficiency and organization via the power of integration—and our new Client360° Trading engine does just that,” Tedesco (left) said.