Trading Platform Overview
Portfolio Management and Rebalancing Built-in
Along with standard trading functionality, the Trust platform incorporates portfolio management and rebalancing capabilities. This combination is the core of the platform’s efficiency. Ultimately, this efficiency frees up resources for you to spend more time on business development or servicing existing clients. And for growing firms, this means fewer new hires to keep the operations running smoothly.
With portfolio management and rebalancing functionality built-in, you do not have to transfer and reconcile account information between software applications to accomplish common operational tasks. You can build and maintain your portfolios, monitor client accounts, conduct what-if scenarios, rebalance and manage cash, assess tax and Short-term Redemption Fee consequences, trade, and automatically reconcile accounts within a single application.
Limiting the steps you need to take to trade can save hours – or even days – each time you need to invest cash, raise money, or rebalance your accounts. Other benefits include reducing the risk of errors by eliminating reconciliations and manual calculations.
If you are an advisor who does not consolidate asset information held at different locations, you can save even more time, cost, and maintenance hassle by retiring your third party or self-built software applications.
The Trust platform is not priced based on transactions, rather it is based on the assets your clients hold. Just like you – a fee-based advisor – we believe the value of our services is collective and not just based on how many trades we process for you.
We offer you the flexibility to charge our custody fee in a way that best fits your business. The choices include charging your client accounts directly, having you pay the custody fee, or wrapping our custody fee with your management fee.
Since transaction fees are not a consideration, you have the freedom to make trading decisions based solely on the investment needs of clients. For some, this translates into significantly lower trading costs. For all, it means there are no longer barriers to keeping clients fully invested or optimizing your investment strategy by rebalancing more frequently.
Mutual Fund Custody Credit Program
At Trust, mutual fund trading has no transaction fees, posting fees, ticket charges, or any individual account-level trading fees. All mutual fund trading activity is included in your asset-based custody fee, and when trading a mutual fund that provides 12b1, shareholder services or sub-transfer agent revenue, a credit is given to the client’s asset-based custody fee.
Standard Trading Capabilities
In addition to our high-efficiency trading functionality, the Trust platform includes standard trading capabilities, such as individual buys, sells, and exchanges which can be created right from the client position view, as well as block trading. The system also accepts trade file uploads.
While we hold title to the clients’ securities, the investments in mutual funds are held at the various mutual fund companies and the direct investments in equity securities are safely held at one of two large, reputable, and highly regulated organizations – The Bank of New York or Pershing, LLC.
BNY ConvergEx Group, a division of the Bank of New York, is our primary equity execution source. Equity and ETF trading carry a per share cost. The BNY ConvergEx Group provides best execution 605 reporting to assist with regulatory exams. They also provide Smart Order Routing where they will keep sweeping the market for the best order until the order is filled and automatically scan dark pools while sweeping.