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Distribution Services Note: The most up-to-date information about Distribution Services through NSCC can be found at www.dtcc.com. Please click here to navigate directly to the Wealth Management Services section of www.dtcc.com. NSCC is now the leading provider of distribution services linking manufacturers of financial products such as mutual funds and insurance products with their distribution channels.
After developing and introducing Fund/SERV in 1986, NSCC expanded to provide other services to the industry, including automatic coordination of client account information between funds and their distributors; settling commission payments; providing global updates of account information when offices moved or changed; providing defined contribution processing; transferring retirement assets in IRAs between mutual funds; and providing real-time account inquiry capabilities. Key to these services is NSCC's ability to provide money settlement of transactions in same-day funds through the Fedwire system.
Launched in late 1997, Insurance Services now links almost 50 insurance carriers, including all the major carriers, with more than 80 distributors in a growing network. NSCC's Insurance Services, which help commoditize and mainstream life insurance and annuities, include: processing of annuity applications, payment of initial and subsequent premiums, financial activity reporting, positions, asset pricing, commission payments, license and appointments, and other services. |
NSCC
is the leading processor of mutual fund transactions between mutual
funds and distribution channels, which include brokers, banks and
financial planners. NSCC's entry into this area began in the mid-1980's,
when the mutual fund industry was searching for a way to centralize,
standardize and reduce the costs of linking to distributors.
Building on its experience in mutual funds, in the late 1990's NSCC diversified its distributions services and established a new set of services to handle life insurance and annuity products, linking insurance carriers to their distribution channels.