Morgan Stanley Smith Barney is to launch a new trading platform for bankers as part of an overhaul of its back-office technology.
According to the Wall Street Journal, the new 3-D platform will offer financial advisors the opportunity to work out of the office due to being a web-based program.
The technology, which is expected to provide support to advisors as part of a back-office solution as well as enabling them to open up new accounts and undertake transactions, will also be overhauled as part of the initiative.
Sean Cunniff, research director at TowerGroup, told the news provider: “Web-based platforms are a lot more accessible to advisers when they are working from home or on the road.
“They also generally have a more modern architecture and much better user interface.”
Robert Ellis, principal at Fast Track Advisors, added: “[These products allow] them to go out and meet with clients and potential clients more, rather than just sitting at their desk waiting for clients to come to them.”
The news provider added that the changes are part of the continuing integration between Citigroup and Morgan Stanley as a joint venture.
Morgan Stanley and Citgroup unveiled their plans to collaborate in January of last year.
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