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Macquarie launches online corporate actions service
Macquarie Wrap has launched an online election service for corporate actions, reducing shares administration and making the management of corporate actions more efficient for advisers.
The service allows advisers to implement a corporate action across their client base, validates client elections as they are authorised by the adviser and maintains the election history online for 13 months.
The service also provides email notifications and reminders to improve workplace processes, provides a corporate actions calendar to notify advisers of upcoming and active corporate offers and allows advisers to submit elections online.
Macquarie head of product Doug Chang said the new service was part of an ongoing focus on reducing equity administration and simplifying businesses for advisers.
"Transitioning what was formerly a manual, paper-based process into a streamlined online service is already making it easier for advisers to manage their clients' wrap accounts, while ensuring they can take advantage of attractive corporate action offers as they become available," he said.
There are already increases in corporate actions as the market improves and advisers were keen to follow it without going through a labour intensive process, he said.
AUTHOR
Mike Taylor
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