This platform allows users to send trades straight through to Commonwealth or to its clearing firm, National Financial Services LLS (NFS), a Fidelity Investments company.
The trade engine gives Commonwealth’s advisers a better way to conduct a core aspect of their daily businesses, said Darren Tedesco, managing principal of innovation and strategy at Commonwealth. “Users can create, modify, submit and monitor trades, receiving up-to-the-minute status on orders without delay,” Tedesco said. “This is all done within the confines of the portfolio accounting and CRM [customer relationship management] system.”
The tools were added to enhance practice efficiency and organization in the Client360° client management system, Tedesco said.
Client360° Trading offers the ability to trade at the household level or across an entire book via the Practice360° platform. Users can:
- Make multiple (basket) trades across an account or a household on one page;
- Access intraday positions and balances, as well as real-time pricing, including unrealized gain/loss;
- Create and view trades for non-brokerage accounts and create an organized list of trades to process through the appropriate fund company;
- Create and hold discretionary orders to be sent later in the day; and
- Liquidate all holdings in an account with a click of the mouse.
More information about Commonwealth Financial Network and Client360° is available here.