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by Richard Marulanda

Related Information

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  • DTCC recently hosted a customer briefing tailored specifically for New York-area fund companies that were interested in hearing about new enhancements to DTCC’s suite of Wealth Management Services (WMS) and discussing how DTCC leverages its expertise and collaborates with the fund community to develop new solutions.

    “Our work is driven in large part by our participation on industry committees and the feedback we receive from customers,” said Karen Doyle, DTCC group director, Relationship Management for WMS.

    “We are continuously working with the fund community to look for new ways to expand our scope of services and enhance our solutions so customers can further expand their business, lower their risks and improve operational efficiencies.”

    At a glance

    DTCC held the half-day session, attended by representatives from AIG SunAmerica Capital Services, First Investors Corporation, Neuberger Berman, The Royce Funds and Schroder Fund Advisors, at its lower Manhattan headquarters. Members of DTCC’s WMS Product Management and Relationship Management teams gave business updates and led discussions on new developments in Mutual Fund Services, Alternative Investment Products (AIP) and Managed Accounts Services (MAS).

    Attendees also heard about current service enhancements to address offshore funds processing, cost basis reporting, as well as the processing of 529 Plans, Automated Customer Account Transfer Service (ACATS) and Transfer of Retirement Assets (ToRA).

    Dialogue with and among customers

    Key objectives of the briefing were to provide a platform for dialogue while updating customers on WMS services and the fund industry. To that end, DTCC representatives also reported on the activities of the Investment Company Institute (ICI) working groups, including the Broker/Dealer Advisory Committee (BDAC) and Bank, Trust and Record Keeper Advisory Committee (BTRAC).

    “DTCC has long-standing partnerships with these groups, collaborating to identify and recommend solutions for the fund industry,” said Doyle. “Sharing feedback from these sessions and working closely with our customers gives us a unique perspective on industry-wide issues so we can develop forward-thinking solutions.”

    Customer perspective

    One customer noted that he was pleased with the caliber of the content delivered during the session.

    “It was a good opportunity to meet with the DTCC subject-matter experts and other fund companies to discuss common challenges and approaches. In particular, the developments with omnibus accounting and cost basis processing will be most beneficial,” said Paul Mackey, operations manager, The Royce Funds.

    “Customers tell us they want more communication from DTCC,” said Doyle. “Interactive gatherings like this help us keep customers informed while maintaining an open and ongoing dialogue. We look forward to hosting similar events in the future.”@

    [For more information about DTCC’s Wealth Management Services, visit or contact your relationship manager.]