27 JUNE 2024
Raymond James: Scaling 4x with Infront trading automation
For over 60 years, Raymond James Financial has provided personalized wealth management solutions. A core part of delivering tailored investment strategies is an efficient trading operation.
Raymond James Investment Services, part of the UK Private Client Group of Raymond James Financial, faced challenges in keeping up with market demands through manual trading processes. That's when they turned to Infront's cutting-edge trading automation software.
The need for seamless automation
"Before implementing Infront trading technology solutions, we faced a lack of automation, efficiency and scalability,” says Simon Mackenzie, Head Dealer & Dealing Desk Manager at Raymond James Investment Services. “We were coping with bottlenecks and pressure points at certain times of the day and periods of the year."
The requirement was clear – find a way to automate routine trading tasks without sacrificing flexibility or execution quality. After evaluating various solutions, Infront's multi-asset trading software stood out.
"The ability to utilise a multi-asset bespoke rules engine and the option to build out preferred routing destinations to suit our client needs were key factors in choosing Infront over competitors."
Intelligent automation scales volumes
By implementing Infront's intelligent trade automation platform, Raymond James could streamline execution workflows across all asset classes. As Simon notes, "Infront solutions are providing significant automation across multiple asset types where no dealer value can be added.”
Any trading activity that follows a defined process is electronically replicated and handled by the rules engine built into the Infront trading system.
This allows the Raymond James dealing team to focus their efforts on tasks that need human expertise and judgement, while Infront software handles the repetitive aspects with precision.
Since implementation, trade numbers have more than quadrupled and only one headcount has been added. Additionally, error rates have fallen to near zero
Scaling operations with confidence
As trading volumes surged, Infront's software scaled seamlessly to meet Raymond James' evolving needs. "The constant development enabling us to evolve as the industry requires and to suit the needs of clients and the business," highlights Simon on the solution's scalability.
This helps to future-proof Raymond James’ trading capabilities, ensuring they can keep pace with new asset classes, regulation changes and client demands without operational constraints.
Enhancing client relationships
Perhaps most importantly, Infront's automation efficiencies have also paid dividends in client satisfaction and building long-lasting relationships for Raymond James.
"High automation levels have enabled more time which enhances relationships and adds value," says Simon. Features like the real-time best execution monitoring tool give Raymond James additional confidence in achieving best pricing for clients.
Looking ahead, the ongoing partnership between Raymond James and Infront will continue driving trading innovation and enhancing Raymond James’ client-centric offering.
With Infront's intelligent automation handling routine tasks, Raymond James Investment Services can prioritise providing tailored wealth management solutions. As markets evolve, this integration of technology and expertise allows Raymond James’ wealth managers to efficiently adapt to each investor's unique needs. The partnership showcases how firms can leverage cutting-edge solutions to offer personalised service at scale in today's fast-paced investment landscape.
The collaborative approach in development has meant the user experience has been as well as or better than imagined. Functionality is slick, intuitive and logical allowing for us to efficiently reach desirable outcomes.
