Cash Management
Broadridge Brokerage Processing Services provides broker/dealers of all sizes and specialization with flexible cash management services. By leveraging the versatility of Broadridge's applications, your firm can provide a broad range of money management alternatives on an account-by-account basis. These services can provide your customers with the ability to make ATM withdrawals, write checks, and define periodic cash disbursements from their brokerage accounts - while still being able to maximize their investments and increase their earnings potential. And with the automated update process, you can be certain of the availability of funds in any given account, before distributions are made. This protects your firm against erroneous withdrawals, reducing your risk exposure.
Broadridge's cash management services are offered in a service bureau environment so you can choose the products and applications that best meet your business needs. You also benefit from the ability to choose specific product features and functions as your business initiatives dictate. And with the highly customizable set up parameters offered with all of Broadridge's cash management systems, you can pre-define profiles for each particular account. If one of your customers wants to have all dividends from her ADP stock deposited to her bank savings account, Broadridge's systems will allow you to set up the distribution parameters in advance for a seamless transition of funds on a periodic basis. This flexibility allows you to offer the value-added services that can help differentiate your firm in this highly competitive marketplace. You benefit from Broadridge's expertise in:
Cash Sweeps - offers more than 50 different customization options and supports more than 255 different money market funds. This system allows firms to pre-define desired cash "sweep" parameters for specific money market funds. It automatically performs a sweep of all dividends and other brokerage account earnings and deposits all funds into a predetermined money market fund.
Periodic Payments - allows customers to have money credited to their bank account, directly from their brokerage account, in almost any time frequency they desire. This system interfaces with all major bank ACH networks and allows for the automatic distribution of funds to a desired account, or allows customers to receive direct payments in the form of a check.
Dividend Reinvestment - allows for quick and easy conversion of cash dividends into additional shares by giving your customers the option of choosing which securities, carried within their brokerage account, to receive an automatic reinvestment of dividends.
Automated Cash Management - offers comprehensive support for checking and debit cards and allows your customers the flexibly to conduct day-to-day transactions against their brokerage account. This system interfaces with PNC Bank and Banc One - two leading cash management account processors - and provides a detailed set of checks and balances to provide protection against unavailable funds. With Broadridge's cash management services you get the best of both worlds - the expertise of an industry leading service bureau coupled with the flexibility and customization options usually only reserved for proprietary systems. And, along with state-of-the-art systems and technology, Broadridge provides unparalleled world class customer service including comprehensive conversion plans, proven quality assurance and ongoing technical support!
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