How it works
One platform, four layers
Investor Services is the custody layer investors see. Three more layers make it work end to end — and every transaction runs through all of them.
The stack
What the investor touches
Both run on
The infrastructure beneath
Why the separation matters
Most platforms in this market are coordination businesses: an administrator with a custodian contract, a broker-dealer affiliate and a bank partner, where the customer experience is only as good as the weakest integration. This is the opposite arrangement. One system of record, four faces on it.
The practical consequence is that a question like “who touched this record, for what purpose, under whose authority, and when” has one answer rather than four, because authorization is evaluated per record and the decision is recorded.