The platform brings together a host of tools and products to assist in providing unbiased investment solutions
Agora Dealer Services, a new carrying dealer, has announced the launch of its wealth-management platform for independent dealers and advisors. With low-cost and zero-cost nominee and fee-for-service account options, it is designed to work in collaboration with independent dealers and their advisors to better support Canadian investors’ needs.
“Our goal is to exclusively support independent dealers and advisors," said Paul Morford, chief executive officer of Agora Dealer Services. “Technology should support, not replace, the advisor.”
The platform promises to revolutionize industry collaboration by bringing together fund investment products, technology capabilities, and practice-management tools that allow those in the independent advice channel to provide clients with unbiased investment solutions.
In a statement, Agora noted the significant role of the independent dealer and advisor channel in the Canadian investment community. But with increasing regulatory requirements, compressed margins, and stiff competition both from large financial institutions and robo advisors, the independent advice channel is in critical need of technology and superior service.
“We are providing advisors and their dealers with a wealth of entirely new and dynamic capabilities to help them compete in today's marketplace," said Jeff Thorsteinson, COO of Agora Dealer Services. “They can focus on their clients while Agora does the heavy lifting in the background.”
Aside from no-fee nominee accounts, the cloud-based platform offers features and services such as:
- Automated, client-friendly onboarding;
- An investor dashboard that keeps client connected to their portfolios;
- No transfer out fees, which allows advisors to introduce clients without friction; and
- Automation of complex form filings, signings, and tax documents
Another feature, subject to regulatory approval, is access to model portfolios. According to marketing materials from the company, the feature will include customized, private-label model portfolios as well as tiered and household pricing. There will be no referral arrangements, and the portfolios will include automated re-balancing and on-going technology credits.
