Mutual Fund Processing
Broadridge Brokerage Processing Services provides broker/dealers with mutual fund processing services that allow them to offer the full array of mutual fund investment products to their customers and support them all by using one uniform order entry vehicle. The Mutual Funds Plus (MFPLUS) platform acts as the foundation for Broadridge's mutual funds processing support, and provides firms with the ability to trade both load and no-load mutual funds.
With the MFPLUS system, your firm can maintain fund positions for each investor on your stock record and display positions and activity on customer statements. The MFPLUS system starts off by providing a seamless interface to the NSCC's Fund/SERV and Networking Systems. By providing this interface, Broadridge enables your firm to easily place orders and transmit registration information, while allowing the mutual fund companies to send order confirmations and corrections back to your firm.
What does this mean for you and your business?
It allows you to maintain individual customer accounts at the fund and on your own stock record - resulting in more timely information provided to your customers and increased trading functionality for your firm. Broadridge has also integrated MFPLUS with the SuRPAS shareholder accounting system, allowing you to perform automated omnibus processing of no-load funds. By having direct communication links with many of the leading transfer agency systems, MFPLUS provides automated processing of no-load orders, confirmations, registrations, dividends, and account updates. This eliminates the need for the manual placement of orders and registrations, and the subsequent manual receipt and data entry of confirmations. In addition, your firm also benefits from systematic calculations of dividends, coupled with daily transmissions of dividend rates and information, reducing manual back-office dividend processing.
The Broadridge MFPLUS system is also integrated with the Mutual Funds Routing System (MFRS), which serves as the order entry vehicle for all no-load mutual fund orders. By having the ability to hold shares in an omnibus account with the mutual fund, and in an individual customer account on your stock record, your firm can offer a mutual fund "supermarket" and support a No-Transaction-Fee program. And, because the mutual fund companies can reduce the number of accounts on their shareholder record keeping system, they can offer rebates to the broker/dealers offering their funds. This rebate can, in turn, be used to offset customer transaction fees. With Broadridge's mutual fund processing services your firm is able to sell no-load mutual funds without commissions and still be profitable by offsetting transaction and processing costs.
Utilizing Broadridge's mutual funds processing services, your firm has the ability to offer unlimited mutual fund investment alternatives to your customers. And, along with state-of-the-art systems and technology, Broadridge provides unparalleled world class service including comprehensive conversion plans, proven quality assurance and ongoing technical support!
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