Evanston, IL, December 16, 2014 --(PR.com
)-- “AdvisorVault made it very easy for us to implement a compliant backup and archiving solution for our electronic records on company PC’s and server at head office,” said Joshua Sands, compliance officer at Core Wealth Planning, an LPL Financial affiliated broker-dealer in Evanston, IL. Outsourcing their remote data archiving to AdvisorVault helped Core Wealth achieve the long-term electronic records archiving demands of rule 17a-4, something that is very important for LPL Financial broker-dealers for ongoing data compliance.
“AdvisorVault is a natural fit for LPL’s broker-dealers because of our experience in data backup and archiving for FINRA members,” said Allan Lonz, President of AdvisorVault. “LPL broker-dealers also found AdvisorVault attractive because of our complete solution which includes archiving files, emails and disaster recovery - three essential key elements of SEC rule 17a-4,” Lonz added.
LPL Financial prides itself in providing its broker-dealers with the best technology to streamline and reduce the cost of compliance. But when it comes to electronic records supervision, one of the best ways for broker-dealers to accomplish this is to use a service such as AdvisorVault’s Consolidated D3P Solution.
A Consolidated D3P Includes:
Data Archiving: AdvisorVault offers LPL firms a full remote data backup and archiving solution for data on servers, laptops, mobile devices and in the cloud. This allows them to retain office documents, scanned records and other key databases for long term 7 year retention.
Email Hosting and Archiving: LPL firms also need a method to archiving and supervise emails. AdvisorVault includes a full email hosting and archiving solution with a full web based supervisory interface that allows compliance officers and other key people to view, flag and download email for retention of 7 years
Disaster Recovery: It is also important to LPL that their advisors have a method to recover from a disaster, critical systems and data must be made available 48 hrs following a disruption. AdvisorVault includes the ability to recover data immediately, to original systems or to an alternate location if needed, as part of FINRA’s business continuity planning mandate.
LPL Financial firm such as Core Wealth need to find third party vendors to help them with data compliance because they don’t have the expertise to build their own systems in house to accomplish this, in addition they need to outsource this to a designated third party as required by rule 17a-4. However, it’s important they find a vendor that offers a consolidated solution that can remotely archive data, email and provide disaster recovery. This greatly simplifies and reduces the cost of compliance to ensure ongoing audits are passed to maintain a high level of customer confidence at all times.
About Core Wealth
Core Wealth is a full-service LPL financial firm committed to helping people and businesses pursue their financial goals. Core Wealth is committed to maintaining the highest standards of integrity and professionalism in our relationship with clients. They endeavor to know and understand their client’s financial situation and provide them with only the highest quality information, services, and products to help them achieve their financial goals.
AdvisorVault is the only remote backup provider that helps small financial firms achieve today’s stringent data compliance requirements surrounding electronic records archiving and supervision. With our designated third-party status (D3P) we help our customers with rules 17a-3 & 17a-4, as well as the supervisory and disaster recovery demands contained in FINRA rules 3510 and 3010. For one flat monthly fee the service includes everything needed to ensure today’s audits are successfully passed.
Allan Lonz, President
Toll free: 1-866-925-1941
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