Birst Implementation at RBC Wealth Management Wins Prestigious TDWI Award
Financial Advisors Using Birst Increase Rate of Asset Gathering
San Francisco, CA, –
Birst, the leading provider of on-demand business intelligence and analytics, today announced that RBC Wealth Management - one of the nation’s largest full-service securities firms - and Birst have received the prestigious "2009 Best Practices Award" from The Data Warehousing Institute (TDWI). Honored by TDWI in the Dashboards and Scorecards category, RBC Wealth Management’s deployment of Birst, named RBC Dashboard, improved benchmarking of financial advisor performance, identified attractive client segments, and provided better tactical information to front-line financial advisors. As a result, advisors using RBC Dashboard increased deposits with targeted households and improved asset gathering over their entire business.
TDWI's Best Practices Awards program is designed to identify and honor companies that have exhibited excellence in developing, deploying, and maintaining business intelligence (BI) and data warehousing (DW) applications. According to TDWI, RBC Wealth Management’s implementation won by clearly demonstrating positive business impact, maturity, innovation and relevance. “With this year’s awards, we’re highlighting solutions that exhibit the kind of innovation—and results—that we believe are key to the evolution of business intelligence,” said Richard Zbylut, President, TDWI.
“At RBC Wealth Management, we’re constantly looking for ways to help our financial advisors better serve our customers,” said Shawn Spott, Vice President, Manager of Marketing Research at RBC Wealth Management. "Using Birst’s on-demand technology, RBC Dashboard quickly and dramatically improved our ability to respond to customer needs. Within months of implementation, our advisors gained a competitive advantage, as indicated by a significant increase in assets under management and increased household revenue. We’re honored to receive this award and to share the best practices that drove these improvements.”
Three years after its initial deployment, RBC Dashboard continues to exceed its performance targets and is now used to set strategic, enterprise-wide goals for production and financial consultant performance. As a result of this success, the company recently created an advisor review module that provides advisors and managers with instant access to the information they need to develop and implement a yearly business plan. A second implementation extension provides a sales management portal through which sales managers can access the information they need to drive effective sales activities and increase revenue.
“We congratulate RBC Wealth Management for its well-earned win and are proud to provide our advanced, on-demand analytics to an industry leader,” said Brad Peters, CEO, Birst. “This award underscores Birst’s ability to deliver easily accessible, flexible business insight that evolves along with the tactical and strategic needs of the customer.”
RBC Wealth Management and other winners will receive their awards at a ceremony held at the TDWI World Conference in San Diego, CA on August 3, 2009.
The Data Warehousing Institute™ (TDWI), a division of 1105 Media, Inc., is the premier provider of in-depth, high-quality education and research in the business intelligence and data warehousing industry. TDWI is dedicated to educating business and information technology professionals about the strategies, techniques, and tools required to successfully design, build, and maintain business intelligence and data warehousing solutions. It also fosters the advancement of business intelligence and data warehousing research and contributes to knowledge transfer and professional development of its Members. TDWI sponsors and promotes a worldwide Membership program, quarterly educational conferences, regional educational seminars, role-based training, onsite courses, certiﬁcation, solution provider partnerships, an awards program for best practices, resourceful publications, an in-depth research program, and a comprehensive Web site (www.tdwi.org).
About RBC Wealth Management
RBC Wealth Management directly serves affluent and high net worth clients in Canada, the United States, Latin America, Europe and Asia with a full suite of investment, trust and other wealth management solutions. The business also provides asset management products and services directly and through RBC and third-party distributors to institutional and individual clients, and has more than $480 billion of assets under administration, more than $230 billion of assets under management and nearly 4,500 financial consultants, advisors, private bankers and trust officers.
The RBC Wealth Management division of Capital Markets Corporation operates in the United States via more than 200 locations in 43 states. Founded in 1909, RBC Capital Markets Corporation is a member of the New York Stock Exchange, the Financial Industry Regulatory Authority and other major securities exchanges, as well as the Securities Investor Protection Corp.
RBC Wealth Management does not provide tax or legal advice. All decisions regarding the tax or legal implications of your investments should be made in connection with your independent tax or legal advisor.
Birs™ is the leading provider of on-demand business intelligence solutions. Birst brings the benefits of fact-based decision-making to a much broader audience by making it affordable, fast, and easy to use. Birst is designed to support users of all sizes—from individuals to groups and entire companies, so that everyone can benefit from greater insight into their business.
Learn more at www.birst.com/
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