(September 20 – 15:30 ET) – B2B Trust, a subsidiary of the Laurentian Bank, and the Canadian financial planning group Berkshire Investment Group say they have formed an alliance for the development, implementation and operation of banking and financial services to be distributed under private label.
B2B Trust, the first Internet-based wholesaler of generic financial products and services and Berkshire will jointly create a range of financial products and services to meet the needs of Berkshire clients and financial advisors. Berkshire will market these financial products and services under its own name, when they have been created and made available by B2B Trust. Chequing accounts, debit cards, Visa credit cards, investor loans and various other products will be evaluated during the coming months.
“With this agreement, B2B Trust consolidates its position as a financial institution entirely devoted to providing generic financial services,” stated Robert Landry, vice rresident, financial institutions group and marketing. “Our expertise, our creativity and our resources will be put to work to allow Berkshire Group and its brokers to widen their range of products and to enhance the quality of their consulting services.”
Kris Astaphan, president of Berkshire Group, said, “This alliance is an important step in enabling our Financial Advisors to deepen and strengthen client relationships by creating, maintaining and transferring wealth throughout all stages of a client’s life cycle. Berkshire Group is convinced of the importance of the contact and relationship between the client and the financial advisor, and continues to pursue opportunities to assist our financial advisors with unique value-added products, services and systems to the delight of clients.”
Berkshire says it will use the information technology platforms of B2B Trust to distribute the financial products and services offered under its own trade name.
B2B Trust will take steps to ensure personalized service as well as protecting the confidentiality of the personal information of Berkshire’s clients.
-IE Staff