Toronto-based B2B Bank Tuesday announced the launch of its new mutual fund and investment dealer services: B2B Bank Dealer Services, designed to deliver efficient investment account administration and services to the Canadian investment community.

This launch of the dealer platform follows the bank’s recent acquisition of the MRS Companies and leverages their 30 years of experience serving dealers and investors.

Three firms will operate under the new B2B Bank Dealer Services banner:

  • B2B Bank Financial Services Inc., a mutual fund dealer and member of the Mutual Fund Dealers Association of Canada (MFDA);
  • B2B Bank Securities Services Inc., a securities dealer and member of the Investment Industry Regulatory Organization of Canada (IIROC) and Canadian Investor Protection Fund (CIPF); and
  • B2B Bank Intermediary Services Inc., a mutual fund dealer registered with the Autorité des marchés financiers, the financial services regulatory body in Quebec.

“This marks a milestone in our integration of MRS Companies into B2B Bank,” says François Desjardins, CEO of B2B Bank. “Our investment account platform is central to our ability to provide advisors with the accounts and services they need to help their clients build and manage their wealth.”

The platform provides investors, advisors and dealers with account administration, clearing and settlement services and comprehensive reporting capabilities across a wide range of registered and non registered accounts. In addition, independent dealers can gain efficiencies by outsourcing many of their current back office functions to B2B Bank Dealer Services platform.

The banks says investors, advisors and group plan administrators also benefit from online account access and tools that provide improved reporting and increased control and flexibility to help them monitor and manage their portfolios all in one place.

Investor access provides online access for investors to account balance and transaction information, eDelivery of statements and confirmations, and up to seven years of account history, tax receipts, and more.

Advisor access provides advisors and dealers with a secure online trading platform and detailed reporting on client accounts, transactions and confirmations.

Group Access is an online group plan member administration system to simplifying one-time and recurring, contributions to individual plan member accounts.

When the integration is complete, almost 320,000 client accounts will be on the system, holding more than $30 billion in registered and non-registered investments from cash, GICs and mutual funds to exchange-traded securities.

B2B Bank is a wholly owned subsidiary of Laurentian Bank of Canada.