Mandeville Wealth Services Inc. Launches ETF Offering
28 Aprile 2014 - 3:51PM
Marketwired Canada
Mandeville Wealth Services Inc. ("Mandeville"), the Mutual Fund Dealer
subsidiary of Mr. Michael Lee-Chin's Mandeville Holdings Inc., is pleased to
announce that its mutual fund representatives will now be able to offer their
clients access to exchange traded mutual funds (ETFs).
Leveraging its relationship with Broadridge Financial Solutions, Inc. (NYSE:
BR), Fidelity Clearing Canada ULC ("Fidelity Clearing") and Mandeville Private
Client Inc., mutual fund representatives will now be able to incorporate a range
of ETFs into their investment portfolios. Mandeville believes that providing
clients with an extensive breadth of investment opportunities is an integral
part of a successful wealth creation strategy.
Announcing the new service platform, Frank Laferriere, Chief Operating Officer
for Mandeville, stated: "Mandeville is committed to providing our financial
professionals with wealth creation products and services typically reserved for
the most successful investors in the world. ETFs are part of that universe.
Mutual fund representatives have, up until now, been prevented from offering
their clients access to ETFs. The lack of access to ETFs was not primarily due
to legal or registration reasons, but because of technological limitations and
lack of creativity. Through our relationship with Broadridge, we were able to
overcome these challenges and it is to the great benefit of our mutual fund
representatives and their clients."
Mandeville representatives will place ETF trades directly on Broadridge's
Dataphile platform, leveraging the firm's industry-leading infrastructure and a
global service model that draws upon more than 50 years of domain experience.
Those trades will be executed through the Mandeville Private Client Inc.
relationship with its carrying broker, Fidelity Clearing, which will execute,
settle and custody the ETFs on behalf of Mandeville using Dataphile.
Mandeville's clients will receive the benefits associated with Mandeville's
membership in the Mutual Fund Dealers Association of Canada and its Investor
Protection Corporation ("IPC").
Todd Roadman, CEO of Fidelity Clearing Canada commented, "Providing carrying
broker services means more than simply clearing trades, it means delivering
timely solutions to support our clients' growth. We are pleased to support the
unique needs of Mandeville to move their business forward and enable mutual
growth for both of our businesses."
"Broadridge partnered with Mandeville and Fidelity Clearing to create this
best-in-class exchange traded fund solution for mutual fund dealers. The
financial services industry is very dynamic, and at Broadridge, we are proud of
the partnerships we have fostered that give us the ability to anticipate and
proactively respond with innovative solutions such as this. Our technology and
operations expertise that is powering this solution enables all of our clients
who provide correspondent clearing services to mutual fund dealers with the
ability to broaden access and availability of ETFs across Canada," said Michael
Dignam, President, Broadridge Financial Solutions, Canada.
About Mandeville Holdings Inc
Mandeville Holdings Inc. is the parent company, founded by Michael Lee-Chin, of
the Mandeville group of companies which includes Mandeville Private Client Inc.,
Mandeville Wealth Services Inc., Mandeville Insurance Services Inc. and Portland
Investment Counsel Inc. The Mandeville group of companies is committed to
providing clients with outstanding personal service and high quality products.
Mandeville offers a differentiated approach to wealth creation by providing
traditional investment products as well as private and alternative investment
opportunities. Mandeville's goal is to democratize these private and alternative
investment opportunities for wealth creation and where appropriate, provide
clients with the same investment techniques used by ultra-high net worth and
institutional investors. For more information about Mandeville, please visit
www.mandevilleinc.com.
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR) is the leading provider of
investor communications and technology-driven solutions for broker-dealers,
banks, mutual funds and corporate issuers globally. Broadridge's investor
communications, securities processing and business process outsourcing solutions
help clients reduce their capital investments in operations infrastructure,
allowing them to increase their focus on core business activities. With over 50
years of experience, Broadridge's infrastructure underpins proxy voting services
for over 90% of public companies and mutual funds in North America, and
processes more than $5 trillion in fixed income and equity trades per day.
Broadridge employs approximately 6,400 full-time associates in 13 countries. For
more information about Broadridge, please visit broadridge.com.
About Fidelity Clearing Canada ULC
Based in Toronto, Fidelity Clearing Canada (Member - Canadian Investor
Protection Fund) provides execution, clearing, custody and back-office support
services to Canadian registered brokerage firms and portfolio managers. The
business is affiliated with Fidelity's U.S.-based clearing organization,
National Financial, which serves 250 broker dealers and is part of the broader
Fidelity Institutional organization. Fidelity Institutional, with nearly $2.7
trillion in assets under administration (AUA) as of Dec. 31, 2013, offers
clearing, custody, investment products, brokerage and trading services to a wide
range of financial intermediary firms. For more information about Fidelity
Clearing Canada, please visit https://clearingcanada.fidelity.com/
FOR FURTHER INFORMATION PLEASE CONTACT:
Media Contacts:
Kate McGann
Broadridge
+1-212-981-1395
katherine.mcgann@broadridge.com
Krista Eccleston
Edelman
+1-212-704-4438
krista.eccleston@edelman.com
Diana Oddi
Mandeville Holdings Inc.
1-905-331-4255
doddi@mandevillepc.com
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