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The client is the largest, US-based, independent broker and dealer. Towards building a futuristic enterprise, it wanted to leverage cutting-edge technology solutions to enhance effectiveness and gain competitive advantage.



The client approached us to address multiple challenges such as their inability to drive value through dual vendor strategy, poor contractual flexibility to scale business needs, insufficient straight through processing (STP) across mid- and back-office functions, pressing need for a transformational automation solution to manage profit and loss (P&L) alongside growth, and lack of tools to drive analytics from mid- and back- office data to increase advisory productivity and advisor experience.



To overcome the challenges, our team needed to consolidate vendors, improve compliance, and standardize processes. We devised the following multi-phase plan that included enhancing capabilities to provide services across all functions to a broker/dealer and automating 40 percent of manual work to drive better front- and back- office integration:

• Phase 1 – Transition

Understanding clients' priorities and delivering the most valuable processes—immediate business need versus cost-efficiency versus service level agreement (SLA). This substantially reduced the cost and complexity of administration and provided users with the ability to service and report on their own data.

• Phase 2 – Stabilization

Stabilization of operations by establishing a center of excellence (CoE). Upskilling workforce onshore and offshore and developing a 'destroy waste mentality' using LEAN, Six Sigma, and robotic process automation (RPA).

• Phase 3 - Improvement

Concretization of a core set of metrics (new accounts, AUM, commissions, N/IGOs, root cause, office number, rep number, etc.) that helped client move from a heavily manual review and release-based model of operations to an exception-based model.

• Phase 3 - Transformation

Provision of various opportunities to help propel the client to the next level in terms of sales, operations, service, and support while maintaining control, efficiency, and cost.


Our innovative solutions allowed the client to experience the following benefits:

• Reduced 40 percent full-time equivalent (FTE)

• Saved over US$35 million in cost

• Improved advisor productivity

• Shortened onboard cycle time

• Enhanced data quality and reduced risks