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June 1, 2012

National Financial Makes Renewed Trust Services Push

By Editorial Staff

National Financial will soon be rolling out a service that will allow correspondents to have mobile access to trust services platform.

That's what Sanjiv Mirchandani, president of National Financial, recently told CQ&D in a Q&A.

"We're providing it to correspondent advisers for the first time," he said. National Financial has offered these trust services, but now the emphasis will be on offering it to correspondents.

Why does it matter?

It will give National Financial clients "the ability to take on the personal trust assets of their clients, whether they are being managed by a trust department or being managed directly by the clients. We are now allowing them to manage these assets on the National Financial platform," he said.

Mirchandani said the National Financial platform has been expanded to do the principal and interest reporting that's required for trust business. This, he says, is part of a move by National Financial to give both the correspondent and the correspondent's client more and easier access to assets. For more on Michandani's views on National Financial and the clearing industry, please see CQ&D Q&A with him.

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