WealthForge CEO, Bill Robbins, joined Stacy Chitty of Blue Vault Partners for an episode of their podcast series Inside the V(Alt). You can watch a full video recording above or read a brief summary of their discussion below.
As the podcast starts, Bill lays the groundwork of what straight through processing is, comparing it to the current paper-based process. Straight through processing connects sponsors, BDs, RIAs, service providers, and tech providers, allowing for a seamless transfer of data across industry participants, while the current process is slow, decentralized, frustrating, and error-prone.
While many firms are now looking into electronic signature as a potential solution during COVID, Bill stresses that electronic signature is only one feature of a larger necessary solution. Straight through processing technology like WealthForge’s platform, Altigo, includes stringent information security, a reimagined data collection process, accurate document mapping, and integrations with current approval processes.
With the ongoing pandemic, many firms are focused on how to facilitate working-from-home for their reps and advisors. Bill notes that remote capabilities have gone from a luxury to a necessity, and he doesn’t see the industry returning to the old way of doing things, even after the pandemic has passed. Altigo connects industry participants without the need for in-person meetings, paper, mail, or fax, all of which require being at a specific physical location.
Outside of remote work, Altigo speeds up the investment process while also making it more secure and eliminating errors. Altigo has the ability to support every product on a BD’s list of approved offerings. It creates a better client experience, and gives reps and their assistants up to 8 hours of productive time back per week. Errors, which create additional work and extend cycle-time, are reduced to <5%. And for the back-office, Altigo increases operational control and sales supervision.
For more information on Altigo, visit www.wealthforge.com/altigo.
