Ram Nagappan, Chief Information Officer
Pershing’s challenge was to help financial advisers differentiate their practices by offering unique solutions to better serve their clients. The presentation of these opportunities had to be simple and intuitive, allowing advisers to easily identify revenue-generating opportunities. Pershing also had to make it easy for advisers to provide supporting information when presenting these ideas to clients.
In addition to the size of the potential opportunity as of the last business day, the dashboard summarizes historical data to illustrate the potential across the last three months. This historical perspective is powerful and illustrates the daily value of the potential opportunity compounded over time. The dashboard also provides a graphical look-back on the income earned by clients who have opted into the fully paid securities lending program, allowing financial advisers to understand and measure the realized benefit to their clients.
Lastly, the dashboard allows associates in the home office of each broker-dealer to scan all advisers and identify those who have the most clients with potential opportunities. This view is impactful for two reasons: to position the fully paid securities lending program to introducing broker-dealers not yet participating; and to allow introducing broker-dealers that are participating to identify their financial advisers who have the most opportunities. The home office uses this information and suggests advisers use the dashboard to capitalize on the opportunities.
Pershing introduced OpportunityView for Fully Paid Securities Lending, which allows high-net-worth investors with stable positions in fully paid-for securities to loan securities to Pershing. This new dashboard uses advanced analytics to identify high-net-worth clients with fully paid-for securities whose demand has exceeded their supply. Each client’s position is graphically presented based on the size of the revenue opportunity.
Within six months of the launch, enrollment in Pershing’s Fully Paid Securities Lending program is up 6% across introducing broker-dealer firms and 11% across end investors enrolled.