RDBA Univeris Users Group: Request for Participation

Background

RDBA has identified a number of Deposit Broker and Affiliate members who use Univeris’s EWMS wealth platform for their practice. EWMS fully integrates back-office operations, compliance and front office for financial advisors into a single system. A Univeris EWMS system is often licensed by Mutual Fund Dealers, for example, and made available to their Advisors and staff through a customized web portal.

Univeris enabled Deposit Brokers can pay an additional licensing fee for Univeris’ GIC module. This module includes a ‘Rate Inquiry Search’ where Deposit Brokers can see a list of Financial Institution issuers with their products and rates, and have the ability to specify investment details and choose GIC investments for their clients. FI issuers that hold agency contracts with the Mutual Fund Dealer in this example, and who also deliver their rates through a Cannex data feed will show up in the ‘Rate Inquiry Search.’

Deposit Brokers who are agents of the MF dealer in this example, and who are subscribers to the GIC module can book GIC investments for their clients and use much of the same EWMS functionality they use for their Mutual Fund Business. For new business, there is automation for using existing client data stored in EWMS’s system of record to pre-populate forms.

If a MF Dealer’s Advisor decided they didn’t want to pay for the GIC Module any more, then any investments booked previously through the GIC module would remain on the client’s statement, but the ‘Rate Inquiry Search’ would disappear.

Univeris Users Group

As part of the development of a GIC Portal and Transaction Network, RDBA has identified Univeris as an important stakeholder in the Deposit Broker industry. We want to include Univeris as a part of RDBA’s end-to-end solution for electronic order fulfilment and allow Deposit Brokers to leveraging their Univeris licenses as much as possible. We believe that building technology bridges between Univeris and the RDBA Transaction Network will play a key role in the success of our initiative for the industry.

RDBA understands that name deposits may only make up a modest portion of your book of business, and that paying Univeris for improvements to the GIC module may not be cost effective for individual licensees. So we are reaching out to members we have identified as Univeris users to try to recruit volunteers to:

  1. Help RDBA better understand how you use the Univeris GIC module with your client name business
  2. Provide feedback and a wish list for enhancements to the Univeris GIC module
  3. Together as an RDBA Univeris Users Group, build a business case for collectively negotiating with Univeris for an update to the Univeris GIC module that will include integration with the RDBA Transaction Network

If you or someone at your organization has the Univeris knowledge and willingness to participate in the RDBA Univeris Users Group, we want to hear from you. Please contact Don Darby, IT and Communications Officer at dondarby@rdba.ca or 1-866-261-6263 x221.