We are excited to announce the launch of our recent customer story, United Brokerage Services Turns Direct Business into a Strategic Asset with Terrapin. This new customer story highlights how our technology supports United Brokerage Services’ direct business model paving the way to consistent and scalable growth.

Industry data shows that one-third of assets in bank-based investment services firms are direct business not held in the firm’s brokerage custody platforms. Direct business, accounts under custody at mutual fund companies, other asset management firms, and/or insurance carriers are commonly used by broker-dealers and advisors rather than a brokerage account on their custody platforms because of certain advantages. 

Getting direct business right is essential for bank-based investment services firms, especially considering how material it is to these firms. Wealth management business directors often grapple with how much funding to invest in the technology to better support and manage direct business, recognizing that at many firms’ direct business is not a rapidly growing line of business. That isn’t the case for United Brokerage Services, which partnered with Terrapin to help manage direct business for their firm. This case study examines the problems associated with direct business, the solutions firms are deploying, and the ways an investment firm can use that solution as a foundation for improving other processes.

United Brokerage Services, a FINRA-registered broker-dealer and SEC Registered Investment Adviser, primarily serves customers of United Bank, which has over 200 branch locations across Mid-Atlantic states. This study was produced in collaboration with industry consulting firm Arthur Osman & Company. We commissioned Arthur Osman & Company to uncover the value of direct business by conducting an in-depth case study of our work with United Brokerage Services. Learn how we helped turn direct business into a strategic asset and pave the way to consistent and scalable growth. Read the customer story today.