FactSet (NYSE:FDS) (NASDAQ:FDS), a global provider of integrated financial information, analytical applications, and industry-leading service, announced that it has been selected as the primary market data and technology provider for the Royal Bank of Canada’s (RBC) entire wealth management organization.
FactSet will virtually deploy a range of web and digital solutions to over 8,000 RBC wealth management professionals, starting with those in Canada and the United States, in early 2021. These solutions include FactSet’s web-based workstation for wealth advisors and a suite of leading content sets, such as its flagship StreetAccount news service, which will be integrated into RBC’s internal applications and client portals using APIs, and Dow Jones Newswires. The multi-year agreement also encompasses FactSet’s Advisor Dashboard, which will provide RBC’s wealth management teams with a holistic view of their entire client base. The dashboard surfaces personalized insights to each financial advisor that link relevant news and events to individual client portfolios, driving improved client engagement.
“High net worth individuals and retail investors are demanding more sophisticated data and technology to support how they manage their portfolios,” said Goran Skoko, Executive Vice President, Wealth Management Solutions, FactSet. “We are seeing that demand intensify as a result of the coronavirus pandemic and are working with our clients to help them provide the high service levels required. RBC is taking a market-leading approach to adopting new technologies that will improve communication and efficiency and drive better results for customers.”
FactSet’s expanded relationship with RBC represents another significant win in the wealth management space and confirms the company’s strategy of delivering enterprise-wide solutions that cover every aspect of the wealth management workflow.