B2B Bank has launched its mutual fund and investment dealer services, B2B Bank Dealer Services, which provides investors, advisors and dealers with account administration, clearing and settlement services and reporting capabilities across registered and non-registered accounts.
In addition, independent dealers can outsource many of their current back office functions.
Three firms will operate under the new banner:
- B2B Bank Financial Services Inc.—a mutual fund dealer and member of the MFDA;
- B2B Bank Securities Services Inc.—a securities dealer and member of the 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.
“This marks a milestone in our integration of MRS Companies into B2B Bank,” says François Desjardins, CEO of B2B Bank.
Investors, advisors and group plan administrators also benefit from online account access and tools including:
- 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 and tax receipts;
- Advisor Access—provides advisors and dealers with a secure online trading platform and detailed reporting on client accounts, transactions and confirmations;
- Group Access—an online group plan member administration system that simplifies one-time and recurring, contributions to individual plan member accounts.
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.