National Financial today said it developed a self-clearing outsourcing business that lets self-clearing broker/dealers outsource various brokerage operations while still maintaining their self-clearing status. The National Financial Self-Clearing Outsourcing business will let broker/dealers outsource their operations and technology-including their broker and advisor workstation-and access numerous brokerage products and services. At the same time, they can keep all the benefits associated with self-clearing such as maintaining full control over their policies, branding, client experience and revenue generating activities such as margin interest.

This service is aimed at mid- to large-sized regional, independent and bank broker/dealers who collectively control $4 trillion of the $13 trillion in retail assets administered by self-clearing broker/dealers in the U.S.

Mark Healy, who was the company's executive vice president and chief operating officer, will head the Self-Clearing Outsourcing unit for National Financial, a Fidelity Investments company. The new business will have its own sales and relationship management teams, and services resources dedicated to working with self-clearing firms.