BondDesk, the premier provider of retail fixed income trading technology and execution services, today announced that it has completed its latest rollout of the revolutionary BondWorks™ wealth management platform with Raymond James Financial and its network of approximately 5,400 financial advisors. Today’s announcement follows the BondWorks initial deployment with Janney Montgomery Scott and more than 750 of its affiliated advisors this summer.
Designed to streamline advisor workflows and simplify day-to-day activities, the BondWorks platform has been hailed as a solution far more advanced than any fixed income wealth management system available today. Early feedback from Raymond James indicates that there are a few favorite features, including the ability to call up recent searches, create bond ladders easily, and obtain real-time status updates of orders and bid wanted requests. The platform’s new look and feel and intuitive graphical interfaces were also cited as favorites.
“Our customers have really responded enthusiastically to the BondWorks platform since we first introduced it this summer,” said Kim Bang, CEO of BondDesk. “For some time now, the retail fixed income market has been hungry for the type of innovation that has positively transformed other markets. With BondWorks, we feel we are ahead of the pack in addressing this desire for technological advancement. The rich feature set we’ve built into the application significantly raises the bar for what advisors should expect from their technology, allowing them to spend less time operating the system and more time seeking out investment opportunities for their clients.”
It took approximately two months from start-to-finish for complete implementation of BondWorks across the firm’s 5,400 advisor network. BondDesk deployed specialists to multiple locations to train users on the new platform and ease implementation. Additionally, BondDesk conducted user-specific, custom configuration work during the rollout to set up the platform in a way that conforms to each user’s preferred workflow and specific compliance requirements.
“The BondWorks solution represents a new era for financial advisors that allows us to work for our fixed income clients at maximum efficiency,” said Jim Fulp, executive vice president and managing director of sales and supervision for Raymond James Financial Services. “This new platform will positively transform our advisors’ results because they use this technology as an extension of their own knowledge and market intelligence. The work BondDesk has done, not only on the platform itself, but also during the rollout, has been exceptional. In addition to transitioning our entire network of advisors over to the new platform in rapid fashion, they also provided hands-on support to get our advisors educated about its improved features.”
“The feedback I’ve received from our advisors has been overwhelmingly positive,” said Tom Galvin, senior vice president of investments for Raymond James & Associates. “Much of that is due to the fact that information on offerings is now more robust and easier to sort and analyze while open and executed orders are easier to access. The BondWorks platform is making it easier to manage our fixed income holdings and to meet our clients’ needs.”
With the Raymond James implementation now complete, BondDesk continues working towards its goal of a full BondWorks rollout to its entire universe of more than 120,000 financial advisors.
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