IFS Blog

DOL Fiduciary Rule Resources

Posted by Tracie Hummel on Sep 14, 2016 10:45:48 AM

The new DOL Fiduciary Rule, which was announced this spring, takes effect next April. At that point, all firms and advisors must be in compliance with the new legislation. Since then, we've been working with many of our clients to develop their customized compliance solutions and have made many enhancements to our DOL Advisor Toolkit, which will be publicly debuted in early October. We've compiled a list of must-have resources for your firm to better understand the new DOL Fiduciary Rule. In the meantime, don't forget to register for our upcoming product reveal webinar, featuring the IFS DOL Advisor Toolkit. 

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Topics: Useful Resources, DoL

What Does a Cup of Coffee Have to Do with Client Onboarding?

Posted by Ray Mulligan on May 25, 2016 10:09:49 AM

In this series of blog posts, we are exploring the reason why organizations go through the effort, expense and disruption of pursuing process automation projects. This post explores our thought process when we think about end-to-end process efficiency in automation efforts.

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Topics: Business Process Automation, Onboarding, Useful Resources

The DOL is Coming, the DOL is Coming-Final DOL Fiduciary Rule Summary

Posted by Ray Mulligan on Apr 8, 2016 11:17:18 AM

So, we finally have the ruling, after much anticipation and final DOL fiduciary ruleprognostication (including from us at IFS) the DOL Best Interest Contract Exemption ruling has been published, all 317 pages of it. If you need a little sleep aide, the entire document can be found here. The general consensus is that the final ruling is a reduction in burden to the financial services community, while still staying true to the clear objective to protect the individual investor and their retirement assets from excessive fees or unsuitable investment products.

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Topics: Industry News, Useful Resources, DoL, Regulatory Matters

T+2 - What to Look Out For

Posted by Randy Barnes on Apr 7, 2016 9:32:59 AM

As the “go live” date for the T+2 accelerated settlement initiative draws near, everyone is busy preparing their firms for the shortened settlement period. Assuming you have downloaded the T+2 Playbook from SIFMA, you probably already know about the main impacts the new policy will have on the broker/dealer community, which can be categorized into two buckets:

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Topics: Industry News, Useful Resources, Regulatory Matters

Why Agile Development Is A Must for Process Automation Projects - Part I

Posted by Tracie Hummel on Mar 22, 2016 9:36:04 AM

As its name suggests, agile development methodology requires a level of flexibility and adaptability. Professionals from any industry who have embarked on a process automation project or solution implementation know that the success of their project is dependent on a commitment to flexibility. But this is especially true for financial services firms. Between the evolving expectations of today’s investors and the constantly changing regulatory landscape, flexibility is vital.

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Topics: Business Process Automation, New Account Opening, Financial Services Industry, Useful Resources

Webinar On Improving Onboarding for Financial Services

Posted by Tracie Hummel on Mar 10, 2016 11:34:57 AM

Last Thursday, we hosted a webinar “Effective Onboarding Practices: Improving Your Firm’s Most Critical Business Process.” In the webinar, members of our product team Ray Mulligan and Randy Barnes guides participants through the onboarding process from the front to the back office and provided tips for improving any wealth management firm’s onboarding system.

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Topics: Tips & Tricks, Onboarding, New Account Opening, Financial Services Industry, Useful Resources

What is The Difference Between a CRM and an Onboarding Solution?

Posted by Tracie Hummel on Feb 18, 2016 4:10:11 PM

In today’s competitive landscape, financial services firms are looking to technology to improve client relationships. Two of the most common technologies used to manage the client experience are Customer Relationship Management (CRM) solutions and New Account Opening/Onboarding solutions. Some firms fall into the trap of using one technology solution to manage all of the requirements and challenges that come along with opening new investment accounts.

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Topics: Onboarding, New Account Opening, Financial Services Industry, Useful Resources

Webinar: Onboarding Best Practices That Improve the Process from the Front to the Back Office

Posted by Tracie Hummel on Feb 10, 2016 12:03:49 PM

Some of the greatest challenges operations professionals face at financial services firms stem from fragmentation between front and back office systems and staff. This fragmentation can be especially costly during the onboarding process, when these two departments must work in orchestra to open and fund new accounts in a timely manner. Without the necessary tools and practices in place to unify front and back office staff, the onboarding process is susceptible to inefficiencies including administrative errors and lack of or miscommunication. As a result, the amount of time it takes to open accounts is increased, customers become frustrated and valuable staff are caught up in administrative functions instead of value-add ones.

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Topics: Tips & Tricks, Onboarding, IFS News, Financial Services Industry, Useful Resources, IFS Events

Best Financial Services Industry Publications, Resources & Groups

Posted by Tracie Hummel on Jan 28, 2016 2:06:45 PM

In our recent blog post about financial services industry trends for 2016, we mentioned that one of the best ways to ensure that your firm is adapting to the constantly evolving landscape is to follow all of the industry focus groups, committees and publications.

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Topics: Financial Services Industry, Useful Resources

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