AFS Online Platform Targets Independent Reps
Automated Financial Systems has launched Investpoint, a browser-based brokerage platform designed for small- and mid-sized brokerage firms. Terry Thorsen, president, says his firm is selling the system to broker/dealers and clearing organizations. The system is geared to independent-registered representatives, registered-investment advisers and full-service brokers. It's ideal, he says, for advisers managing under $10 million.
It has basket and block trading and there's a streamlined account-opening process. It provides for tax-lot accounting, based on asset groups, and allows advisers to quickly generate tax forms.
The system, he says, leverages the back offices of service bureaus - such as ADP, SunGard and Thomson Financial's Beta - to allow brokerage firms to provide advanced portfolio management, including a real-time aggregated-account-status view that covers households. Thorsen says the system incorporates flexible, open architecture and the firm maintains redundant data centers. It increases broker productivity, reduces IT and support costs and reduces time to market, he says, adding that the system can be installed and running within 30 to 60 days, "depending on what's involved." The pricing is flexible, ranging from a monthly rate per user of around $150 to transaction pricing or a one-time license fee.
CRM System Gets Upgrade
Interface Software has released InterAction 5.0, an enhanced version of the firm's relationship-management tool. The new product "increases the value of InterAction to the professional and accelerates an organization's overall return on investment," says Interface President and Chief Executive Officer Nathan Fineberg.
Interface has added better data-quality tools to ensure data integrity and business rules can be applied based on types or classifications of data. A new project module allows firms to tie people into deals and provides them with a 360-degree view of the client, including the type of work done for them in the past, which aids in cross-marketing services. Also new is an interface that uses the latest in Web technology to build a dashboard-style control panel that cuts down on user training. Advisers who are hesitant to share information can now control to what extent information is made available firm-wide. Interface says the new release will improve return on investment, reduce the cost of ownership and increase the ability to identify new business opportunities in financial-services firms.