RBC Correspondent Services and RBC Advisor Services launched a new wealth management technology platform, Black.
Within Black, RBC has bundled five leading financial services technology providers – Redtail, CircleBlack, Riskalyze, Vestmark and MoneyGuidePro – into one simple, intuitive platform.
Black contains a full menu of wealth management solutions developed by its technology partners. CircleBlack provides client account aggregation and portfolio analytics and Redtail provides customer relationship management. Riskalyze provides risk alignment tools, MoneyGuidePro provides financial planning tools, and Vestmark provides trading and rebalancing tools.
Accessible through a single login, on most devices, Black is offered to RBC's clearing and custody clients. The platform costs $175, which is 80% less than the sum cost of purchasing each technology separately, according to RBC.
