Richmond Hill, Ont.-based mutual fund dealer Keybase Financial Group Inc. has announced that its giving more than 150 advisors access to advisorDUO, Toronto-based Invesco Canada Ltd.’s new digital wealth-management platform.
Other firms now using the robo-advisor platform include Trois-Rivières, Que.-based Groupe Cloutier Inc., Windsor, Ont.-based Sterling Mutuals Inc. and Kingston, Ont.-based Professional Investments Inc.
The digital tool enables financial advisors to connect directly with clients via an electronic interface where investors can create new accounts and received advice through the platform. Mutual fund licensed advisors can also access ETF products and offer a digital onboarding process.
“We are on an exploratory track in transforming the way advisors run their business through an automatic client engagement, onboarding and service platform,” says Dax Sukhraj, president and CEO of Keybase Financial Group, in a statement. “This initiative is a key step along the path to digital transformation.”
The firm hopes the platform will help advisors by reducing administrative costs, initiating fee-based investor relationships, and preserving client assets under administration.