Financial Serivices: Financial Services Firm with 6 Branch Offices and 40+ registered Reps


To process their clients’ applications, make trades on behalf of their clients, or invest in mutual funds, all of the paperwork must be sent in hard copy to the central Office of Supervisory Jurisdiction for suitability assessments and approvals. The mail delivery alone causes delays in processing and incurs a real “dollar cost”. However, their approval process is further complicated by the fact that the person authorized to make the approvals must travel an hour each direction between his office and HQ to put his signature on the documentation.

At best, this scenario takes several days; if someone is out of town or they miss the mail drop-off for whatever reason, it is even longer. The end result is that the client’s investment cannot be put to good use in a timely fashion and their staff’s commissions are delayed.

kloudtrack® SOLUTION

Utilizing kloudtrack®, each branch office now can upload the investment documentation electronically from their Internet-based PC which the New Business Manager can access immediately online. She then creates an electronic “workbasket” with the appropriate forms and directs it to the “supervisor” for PIN approval. This process can be done in a matter of minutes, without incurring any additional mail/courier/overnight fees. However, kloudtrack®, takes it one step further.

Now, they have a permanent audit trail of who received AND acted on what documentation and when. In the event information is missing from a form, the supervisor can redirect the workbasket back to the appropriate office, provide his comments, and receive immediate notification when the completed form is ready. No longer can someone in the “route” claim that they didn’t see it or that they weren’t told what was needed. The permanent record is burned into the Ultra Density Optical drives of kloudtrack®,.

kloudtrack®, provides management oversight to a cumbersome process which was previously lacking.

  • It relieves the administrative burden of making copies, and preparing and waiting for mail packages before the next step can be completed.
  • It gives them flexibility to do their job regardless of their location.
  • It gives them the confidence that when the NASD and SEC come to the door with an audit request, they can provide the necessary documentation quickly and efficiently to prove they performed their job.


On July 25, 2016, posted in: Case Studies by
Comments are closed.