The Open Advantage Suite is a set of complimentary modules which allow a brokerage to open new accounts, maintain up-to-date customer information, documentation and perform state-of-the-art reporting analytics. Each module takes advantage of a shared workflow system allowing for task scheduling, delegation and alert based notifications. In combination or separately these modules allow for the next generation of personalized service, operational efficiency while meeting compliance obligations.

Open Advantage

The Open Advantage module allows for front-office entry of new client information. This is possible as the application process is simplified by only presenting questions relevant to the firm. Re-work is substantially reduced as information is entered digitally and validated before the paperwork is submitted. Once the client information is entered a filled in personalized welcome kit can be generated including: welcome letters, NCAF forms, transfer forms, W8/W9 forms as well as Investment Policy Statements.

Self Serve Advantage

The Self Serve module allows end customers to apply for a new account over the Internet. Like the Open Advantage module the Self Serve module generates a welcome kit for the client which can be printed out and mailed into the firm after signature. In addition customer service requests can be entered dynamically over the Internet and responded to through e-mail. A web services API is available so that functionality from the Open Advantage Suite can be seamlessly integrated into a firm's website.

Update Advantage

The Update module allows you to maintain up-to-date client information. This module is document driven in that updates are made based on supporting documents. These updates participate in various workflows to ensure material changes are properly approved. In addition an audit history is maintained which allows a firm to see all changes which have been made on a client's account and what documentation was provided.

Reporting Advantage

The Open Advantage Suite has a comprehensive schema which allows for the integration of a variety of diverse data sources. Once integrated these data sources can be utilized for data mining purposes. The Reporting module ships with over 30 different reports allowing: tracking of business metrics on customer acquisition, operational efficiency, portfolio supervision, and compliance monitoring.

Document Advantage

The Document module helps manage client documentation. Once the documentation requirements for a client have been determined the documentation can be tracked. Documents can be entered into the system via scanning or a fax server. If bar-coded these documents can be automatically recognized and stored. New documents can be generated with dynamic bar codes and pre-filled in data. The Document module includes several reports for the tracking and aging of Missing Documents.

Transition Advantage

The Transition module allows new financial advisors to supply their data in a spreadsheet format. Once this data is imported into the system, partially filled in paperwork can be generated immediately. Alternatively, in conjunction with the Open Advantage module advisors can enter the missing information and generate a completed personalized welcome kit.

Approval Advantage

Upon submission of a new client application each firm has a unique approval process. This process may involve the Investment Advisor, Branch Manager, Name and Address Department as well as Compliance. Each firm also has different criteria for approving accounts. The Approval module allows for this workflow to be automated. Tasks are routed through group and individual queues to the appropriate personnel quickly. Persons performing approval are presented with a graphical display of the firm specific risk calculation with important details highlighted.