The broker-dealer subsidiary of Bank of Hawaii is partnering with Sorrento Pacific Financial to give the bank’s customers access to additional online tools, the two firms announced yesterday.
Through the partnership, the clients of Bankoh Investment Services, the bank’s broker-dealer subsidiary, will have access to Clear1, which is a bank-branded client-facing portal and mobile application. Clear1 will be programed to work through the bank’s website, allowing clients to view consolidated, real-time snapshots of their bank accounts alongside a household view of all their investment accounts, the bank said.
Sorrento Pacific Financial, based in San Diego, is a subsidiary of Atria Wealth Solutions. The multi-year partnership is a secondary clearing arrangement, commonly known as a “pass through.” Bankoh Investment Services will maintain control of their broker-dealer and brand.
Bankoh Investment Services professionals will have access to Unio, a proprietary platform designed to streamline various processes and tasks from account opening to financial planning into one unified application, the firms said.
“As we look at our business today and into the future, it was clear to us that the demands placed on our business and financial professionals will only grow exponentially. We see this across the entire landscape from what clients expect from their financial services providers to increased regulatory demands to our internal growth goals,” Christopher Otto, Bankoh Investment Services CEO and president, said in a statement.
“We sought a partner able to provide an operating model to meet those ever-increasing demands and to free us up to focus on the relationships between us and our clients,” he added.
Eugene Elias Jr., Atria’s chief operating officer and a founding partner, added in a statement, “The environment we work in is only becoming more complex. Financial institutions and their financial professionals are expected to provide unified wealth management solutions, fast and intuitive technology, personalized service, and so much more, all while meeting ever-changing regulatory requirements.”