E*Assist introduces automated compliance tool
E*Assist LLC, based in New York, has launched its Compliance Officer Report Card, a monitoring tool for assisting compliance officers in tracking the advisers they oversee.
The product is aimed at small to midsize brokerage and financial adviser firms.
The underlying technology of the tool combines real-time capture of data that is then cross-referenced against preset templates, the results of which are then automatically sent to the management application.
When an adviser satisfies an assigned compliance task, the system then updates the compliance officer’s dashboard.
“Broker-dealers now have the capability to hire a much larger pool of advisers at a minimal additional cost to the firm, with the confidence that their performance and compliance requirements are being met,” E*Assist chief executive Ted Tsung said in a statement.
For more information visit
eassistllc.com.
Discount broker TradeKing to provide free cost basis tool to investors
Options and equities traders with online discount broker TradeKing will soon have access to a cost-basis tool some advisers would envy. Scivantage’s Maxit (
scivantage.com) product is an automated cost basis and portfolio tax reporting system that will be available to TradeKing clients free of charge beginning in early February. Its inclusion is intended to help the brokers’ customers minimize tax liabilities and increase their after-tax performance. For more information visit
tradeking.com
PNC rolling out NorthStar wealth management software to advisers
PNC Financial Services Group Inc. based in Pittsburgh, will be providing its advisers in the company’s Wealth Management division with an integrated software platform from NorthStar Systems International of San Francisco. The system will allow PNC to integrate into one workflow the processes of profiling and proposal generation,
financial planning, investment selection, portfolio construction, as well as client reporting and management. This appears to be more evidence of PNC’s desire to improve and grow its adviser business; readers will recall that the acquired Lawrenceville, N.J.-based Albridge Solutions Inc., a firm that specializes in portfolio-aggregation, accounting and enterprise wealth management services, in November
(InvestmentNews, Nov. 5, 2007). For more information visit
northstar.com.
"We believe PNC selected our wealth management platform for its integration capabilities and comprehensive views of client wealth, including internal and hearsay holdings," said Collin Cohen, president of NorthStar.
"For advisers, the system [allows them] to provide consistent, holistic advice. For senior management, it offers anlaytics and reporting that can help them maximize productivity and fuel growth."
