Full service independent investment dealers Raymond James Ltd. today announced the launch of a dedicated business focused on providing custody and business solutions for Canadian wealth management firms.

Called Raymond James Streamline, the business will serve as the primary custodian for a wide range of investment counsel/portfolio management firms, as well as independent IDA registrant firms.

“We take a fully integrated approach to assessing, facilitating and delivering the key business support
functions that Canadian wealth management firms require to deliver quality services to their clients,”
says Daniella Dimitrov, senior vp, strategic onitiatives of Raymond James Ltd. “We believe that Canadian wealth management firms will benefit in countless ways from having access to a strong, independent alternative and one that has the depth of knowledge and expertise, on both sides of the border, to provide best-in-class solutions.”

A key focus for Raymond James Streamline is to integrate important business support functions with its custody platform. To this end, Raymond James Streamline has forged a strategic alliance with HighView Financial Group. HighView is among the nation’s leaders in providing advisory and outsourced business services to Canadian wealth management firms. Together, Raymond James Streamline and HighView Financial Group can provide end-to-end solutions or stand alone services for clients including: custody, compliance, governance, asset management, technology, strategy and capital.

“HighView Financial Group shares our philosophy of providing fully integrated and customized solutions for clients,” says Dimitrov. “They have a tremendous breadth of services and experience that perfectly complements our custody and private client service platform.”

“We share a common belief with Raymond James that the Canadian wealth management industry is entering an era of select deconsolidation and we are thrilled to be able to partner with a firm of Raymond James’ reputation and experience,” says Mark Barnicutt, president and CEO of HighView.