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Efficiency of Processing

Efficiency of Processing. Challenges, Best Practices, and Action Steps. Welcome. Marc Butler , Managing Director, Pershing, a BNY Mellon Company Matt Chisholm , Vice President, National Financial, a Fidelity Investments Company Stephen Lank , SVP, Broker Dealer Support Services, LPL Financial.

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Efficiency of Processing

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  1. Efficiency of Processing • Challenges, Best Practices, and Action Steps

  2. Welcome • Marc Butler, Managing Director, Pershing, a BNY Mellon Company • Matt Chisholm, Vice President, National Financial, a Fidelity Investments Company • Stephen Lank, SVP, Broker Dealer Support Services, LPL Financial

  3. Objectives • Model Challenges • Costs • Latest Trends • Best Practices • Action Steps to move forward

  4. Model Challenges • Operational Efficiency • Complexity • Sales Surveillance • Operational and Technological Scalability • Audit Readiness • Declining Financial Performance

  5. Costs: Direct vs. Brokerage • Broker-Dealer Cost (Mutual Fund Trade) • Brokerage: $2.58 • Direct: $33.00 • Advisor Cost (Mutual Fund Trade, including Ticket Charge) • Brokerage: $31.53 • Direct: $62.00 • Total Cost (Mutual Fund Trade) • Brokerage: $34.11 • Direct: $95.00 Source: Beacon Strategies – “A Broker-Dealer’s Conundrum: The Clearing or Unified Model”, 2010 and 2011

  6. Latest Trends • New clearing firm models • “Clearing-Centric” vs. “Customer-Centric” • New Broker-Dealer Models • “Full-Service” vs. “Self-Service”

  7. Best Practices • Focus on Top 20 RR’s • Focus on Top Funds • Incentives to move

  8. Action Steps to Move Forward • Business Model Review • Examine Current Capacity • Preparing for future volume and trends

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