Securities America Unveils Latest Paperless Office Solution
"Our top technology priority is always making it easier for advisors to do business," said Doreen Griffith, Securities America executive vice president and chief information officer. "Significant time and cost savings can result from eliminating steps such as copying, faxing, mailing and storing documents. The new Vault meets SEC 17a-3/4 compliance regulations for storing and retrieving original documents that cannot be altered or deleted. We've offered that service for many years for paperwork that we process in the normal course of business. Now we've extended that service, at no additional charge to advisors, for any document they want to store online, from client meeting notes to tax returns and estate plans."
Securities America based the new Vault on feedback from its advisors and sales assistants along with research on popular document storage solutions. The resulting system integrates with the company's client data management system to populate index values, guides users through the file transmittal process with dynamic fields and enables users to sort, filter and save search results.
Advisor Dan Goeken of Norfolk, Neb., decided in January 2010 that all new documents would be stored online and paper copies shredded. His staff then worked backwards, scanning old documents, loading them into the Vault and shredding paper versions. The office eliminated 10 filing cabinets of paper documents. Even new account documents are scanned and shredded immediately after being signed by the client. Goeken has also embraced Securities America's mobile access, electronic signature and mobile check deposit solutions.
"To really do business any time from any place, you need access to all the documents typically stored in your office," Goeken said. "Because we store everything in the Vault, it's all available whenever I need it, whether I'm on location at a client's business or in my home. Whenever Securities America calls the office for additional documentation, we simply give them the document number in the Vault - no scanning, faxing or emailing."
Advisors can experience Securities America's paperless philosophy from the early stages of the relationship. The company offers a paperless onboarding process for new advisors that eliminates ink signatures and fingerprints along with overnighting documents back and forth. Prepopulation of forms from the advisor's FINRA CRD application and built-in document tracking reduce redundancies or overlap between Securities America staff and the prospective advisor.
About Securities America
Securities America is one of the nation's largest independent broker-dealers with more than 1,700 independent advisors responsible for $50 billion in client assets.
Securities offered through Securities America, Inc., member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc., an SEC Registered Investment Advisory Firm.