DTCC Lowers Omni/SERV Fees by 40%

by Beverly Dube

Here’s important news for asset managers who have been wanting a deeper understanding of their fund distribution but have found the price of entry cost prohibitive. Depository Trust & Clearing Corporation (DTCC) has lowered the cost of Omni/SERV® effective January 1, 2019.

  • Omni/SERV membership is now $1,500 per month, down from the previous $2,500 per month.
  • The 40% price reduction is part of a broader pricing simplification as DTCC seeks to “maintain a fair and equitable pricing methodology while maintaining its compliance with regulatory guidance and driving best practices.”

Why this matters to you  

DTCC Omni/SERV integrates with Celera’s SalesStation, a data management and reporting platform that provides asset managers with actionable insights about the intermediaries that represent, recommend, and ultimately buy your products. There are certain intermediary firms—LPL, Morgan Stanley, and U.S. Bank for example—from which you simply cannot obtain data without a subscription to DTCC Omni/SERV. Omni/SERV supports the exchange of mutual fund activity and position files for funds held in omnibus. Therefore, if you have omnibus relationships and require data transparency from one of these intermediaries, DTCC’s new pricing is positive news for your firm.  

Financial intermediaries are an increasingly important distribution channel to a growing number of asset managers. In fact, the Investment Company Institute (ICI) estimates that 80% of households that own mutual funds outside of employer-sponsored retirement plans purchased their funds with the help of an investment professional.1 However, without understanding the motivations and behaviors of the firms and advisors that make up this channel, many managers struggle to retain and grow intermediary assets.  

SalesStation is instrumental in helping managers gain the critical insights needed to understand your client base and optimize your marketing and distribution strategies. We are thrilled to see intermediary-level data from Omni/SERV® and other providers become more accessible and affordable as it levels the playing field for asset managers of all sizes in this increasingly competitive—and important—distribution channel.   

For more information on Celera’s SalesStation, please click here. For more information on Omni/SERV, please visit the DTCC website