Princor Financial Services: Streamlining Operations
Independent Contractor

The Opportunity

• Redundant operational touch points in check requests and paperwork among home office and investment professionals
• Operational structure out of sync with core processes
• Excessive costs due to multiple custodial relationships

Why Pershing?

• Consultative approach
  • Business reengineering consulting to help reinvent the home office
• Technology
  • NetExchange Pro® platform, enabling investment professionals to take control of initiating all check requests and the IRA distribution process
  • Real-time status checks without calling the home office
• One-stop solution
  • Ability to consolidate holdings to achieve integrated data view, standardized processes, and reduced costs

The Bottom Line

• Nearly 30% of retail check requests initiated in field within 6 months
• Achieved 30% growth rate in AUM by Q2 2007 with no significant addition to home office staff
• Operational staff refocused on high-priority issues, including training and conversion support
• Future: Growth Without Limits
  • Mutual fund business moving to brokerage platform

"This has been a huge success" Tisha Worden, Princor Financial Services