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Mandeville Wealth Services launches ETF offering

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Mandeville Wealth Services’s mutual fund representatives will now be able to offer their clients access to exchange-traded mutual funds (ETFs).

Leveraging its relationship with Broadridge Financial Solutions, Fidelity Clearing Canada and Mandeville Private Client, mutual fund representatives will now be able to incorporate a range of ETFs into their investment portfolios.
 
Mandeville believes that providing clients with an extensive breadth of investment opportunities is an integral part of a successful wealth creation strategy.
 
Frank Laferriere, chief operating officer for Mandeville, says: "Mandeville is committed to providing our financial professionals with wealth creation products and services typically reserved for the most successful investors in the world. ETFs are part of that universe. Mutual fund representatives have, up until now, been prevented from offering their clients access to ETFs. The lack of access to ETFs was not primarily due to legal or registration reasons, but because of technological limitations and lack of creativity. Through our relationship with Broadridge, we were able to overcome these challenges and it is to the great benefit of our mutual fund representatives and their clients."
 
Mandeville representatives will place ETF trades directly on Broadridge's Dataphile platform, leveraging the firm's infrastructure and a global service model that draws upon more than 50 years of domain experience. Those trades will be executed through the Mandeville Private Client relationship with its carrying broker, Fidelity Clearing, which will execute, settle and custody the ETFs on behalf of Mandeville using Dataphile. Mandeville's clients will receive the benefits associated with Mandeville's membership in the Mutual Fund Dealers Association of Canada and its Investor Protection Corporation (IPC).
 
Todd Roadman, CEO of Fidelity Clearing Canada, says: "Providing carrying broker services means more than simply clearing trades, it means delivering timely solutions to support our clients' growth. We are pleased to support the unique needs of Mandeville to move their business forward and enable mutual growth for both of our businesses."
 
"Broadridge partnered with Mandeville and Fidelity Clearing to create this best-in-class exchange traded fund solution for mutual fund dealers. The financial services industry is very dynamic, and at Broadridge, we are proud of the partnerships we have fostered that give us the ability to anticipate and proactively respond with innovative solutions such as this. Our technology and operations expertise that is powering this solution enables all of our clients who provide correspondent clearing services to mutual fund dealers with the ability to broaden access and availability of ETFs across Canada," says Michael Dignam, president, Broadridge Financial Solutions, Canada.

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