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Leading global financial technology business IRESS is continuing to make strides into the wealth management market in Canada as it unveils a string of new collaborations with key businesses in the sector. The integration of its wealth management solution with Broadridge Dataphile, through Fidelity Clearing Canada, is delivering significant cost savings through the streamlining of processes for firms across the Fidelity correspondent network.

This announcement follows a successful technology implementation of IRESS’ wealth management solution with leading independent wealth management and capital markets firm, Echelon Wealth Partners Inc. in May 2017.

In the last six months, IRESS has undertaken delivery of technology solutions for five wealth management firms across the sector, including BlueSky Investment Counsel, Tactex Asset Management a wholly owned subsidiary of Mylo Financial Technologies, and most recently, Noble Bay Asset Management. Each of these firms represent an emerging group of discretionary portfolio management companies.

IRESS’ wealth management technology provides firms with an integrated platform to support the complete customer experience for a firm’s client base. It streamlines processes, delivers end-to-end capability and offers multi-channel client engagement, from on-boarding, client reporting and customer relationship management (CRM), through to portfolio management and trading.

IRESS’ integration with Fidelity’s custody and clearing services allows IRESS’ wealth management clients to leverage existing order management infrastructure and end-of-day (EOD) ticketing with the Fidelity trade desk.

These implementations reflect the growing trend for a new breed of discretionary portfolio managers who recognize that clients’ expectations are evolving and utilize technology to support the delivery of a seamless and consistent client experience.

Mark Ellis, president, Noble Bay Asset Management said: “A key requirement for Noble Bay was a single solution capable of both meeting the needs of our clients and to cater for the unique structure of our firm and its managers. We didn’t just want new software – we wanted a single technology platform to help us transform our business and to be able to continue to grow with confidence. The solution delivered by IRESS unifies and streamlines processes across the organization as well as meeting our client and compliance needs.

“The IRESS team has shown a deep understanding of our business and worked closely with us to deliver a solution that meets the needs of our firm. We look forward to a long relationship with IRESS.”

Michael Lynds, managing director, IRESS added: “Our goal is to provide technology that meets our clients’ needs, including helping our clients provide efficient and quality outcomes to their clients. We are seeing increasing interest in technology to enable firms to optimize the services they provide efficiently and at scale. We’re excited to be working with these forward-thinking Canadian businesses on delivering their vision of a truly client-centric experience.”

“Our integration with Fidelity has helped support IRESS’ substantial growth in the wealth management space in recent months. We anticipate we’ll be in a position to announce further technology collaborations throughout the year as we continue to build strong relationships across the correspondent networks sector and deliver demonstrable efficiency benefits.”

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