Broadridge Financial Solutions, Inc. (NYSE: BR) has launched a reporting product that allows investment brokers and dealers to meet upcoming fee and performance reporting requirements under Canada’s Client Relationship Model, Phase 2 (CRM2) regulatory initiative, which goes into effect July of next year.
The new Intelligent Reports product provides complete workflow support to capture, aggregate and process account charges and compensation and performance data in a clear and engaging format for clients, Broadridge says.
The new product is based on Doxim Inc.’s Digital Document Factory (DDF) technology, and is available as a stand-alone service or can be integrated with Broadridge’s multi-feature, Intelligent Account Statement service.
Two reports, known as the Report on Charges and Compensation and the Annual Performance Report, must be sent annually by investment brokers and dealers to their clients.
Broadridge’s Intelligent Reports service comprises several systems and interfaces. Doxim DDF will provide the graphic design and composition, using XML data feeds for clearer, more engaging client reporting and aligned with user preferences for mail and/or electronic access.
Investment dealers and brokers will also have the option to provide tailored messaging in the reports and to integrate newsletters and similar documents into the process.