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Enhancing Processing Efficiency: Challenges, Best Practices, and Action Steps

In this insightful session, industry leaders Marc Butler, Matt Chisholm, and Stephen Lank discuss the key challenges faced by broker-dealers in achieving operational efficiency. They explore the costs associated with different trading models, the growing complexity of sales surveillance, and the need for scalability in operations and technology. The session outlines best practices, including focusing on top-producing brokers and funds, and provides actionable steps for firms to review their business models and prepare for future demands in the financial landscape.

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Enhancing Processing Efficiency: Challenges, Best Practices, and Action Steps

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Presentation Transcript

  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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