RBC Correspondent Services, a clearing firm for independent broker/dealers, and RBC Advisor Services, an RIA custodian, today announced the launch of BLACK, a new integrated financial advisor platform.
RBC BLACK integrates five leading providers of technology for advisors into a simple, intuitive platform. RBC BLACK represents an innovative, expandable platform containing a full menu of wealth management solutions developed by the following industry leading financial technology partners:
“We wanted to make sure that the platform was appropriate for the needs of our clients”, said Brett Thorne, head of RBC Correspondent Services and RBC Advisor Services. “We also wanted to provide a technology platform at the appropriate price point.” At $175 per month, the platform is competitively priced.
“The RBC BLACK platform truly addresses the needs of our independent broker/dealers and registered investment advisor clients,” said Thorne. “The world of financial services along with technology is rapidly changing. We wanted to build an exclusive advisor platform to help our firms and their advisors realize opportunities, gain efficiencies and thrive in this new environment.”
RBC has tested BLACK with a focus group of 60 advisors from 10 firms, and it was very well received, according to Thorne. He also stated that RBC has previewed the platform to a number of prospects, and it has been a factor in RBC winning some new business already.
“CircleBlack worked closely with RBC to design and build BLACK specifically for RBC’s clearing and custody clients,” said John Michel, CEO of CircleBlack. “BLACK is a cutting edge platform, built on the latest scalable web technologies and seamlessly enables secure data flow between all the partners.”
RBC is well known in the IBD space, but less so as an RIA custodian, although they have been in the business for years. Thorne believes that RBC BLACK will help to raise the firms profile in the RIA space. “We feel that we are well positioned to serve independent RIA’s,” he said.
To learn more about this new technology offering, please visit RBC@intermarket.com.