Why Compliance and Operations needs Equalizer:

We understand how Operations and Compliance must work together for a B/D to run efficiently. With Equalizer customer data, sales activities, and compliance flow is combined seamlessly then viewed and managed from any location, anytime using a secure internet connection.

We understand that you must not only do what is required, you must be able to evidence having done it. To this end we provide an array of preset compliance reports that effortlessly fulfill many FINRA requirements.

As we speed and automate the compliance process firm-wide paperwork burdens are cut dramatically.

In fact, we have fully automated so many Compliance and Operations tasks that you now oversee your business with confidence.

B/D operations are revolutionized and efficiency skyrocket when Equalizer moves customer data and transaction entry to the point of origination, the Representative. This logical change reduces unnecessary processing errors.

Direct "Check & App" mutual fund, variable and fixed annuity physical paperwork now stops passing through the home office/OSJ on its way to the issuer. Representatives enter, process, and mail this business directly while your Supervisory Principal oversees all activity in real time.

Benefits of Equalizer include:

  1. Reduces back office Compliance and Operations workload dramatically
  2. You just don’t change to a new firm. You transition! Equalizer is the perfect tool for automating your new recruit transitions. Use it to pre-fill an announcement/instruction letter, New Account and other forms clients must sign.
  3. All existing customer data, in any format, is imported for a quick and seamless transition.
  4. OFAC checks on customers are completely automatically, you do nothing! Report provided for FINRA.
  5. FinCEN 314(a) bimonthly requests are checked automatically, you do nothing! Report provided for FINRA.
  6. Suitability (17a3) letter to customers is automatically generated upon a new Registration approval. Doubling as a welcome letter, it is professional and envelope ready for mailing.
  7. Change of Address log is created and a letters to both the old and new addresses are generated upon approval.
  8. Customer Correspondence is retained and electronically routed to proper supervisor for approval.
  9. Each Rep’s activity is instantly routed to their own designated Supervisor electronically so New Account forms, transactions, and written customer correspondence are reviewed and approved faster.
  10. Compliance forms: Equalizer custom creates a professional signature-ready compliance disclosure form for every transaction entered. The content is logically customized based on factors such as the investment, share class, qualified/non-qualified, and other attributes of the transaction. No more creating and maintaining burdensome libraries of boilerplate compliance forms, irritating Reps and Clients alike.
  11. Ensure that Customer suitability is updated within 36 months. Age of registration data is tracked, warning when near or becomes outdated. Report shows the status of ALL registrations instantly.
  12. Mutual Fund and Annuity switching activity: Tracks and reports each Reps individual activity as well as the firm as a whole. Report provided for FINRA.
  13. Documents you can read! Equalizer neatly prints Rep and Customer information on forms so errors due to handwriting and sloppiness are eliminated.
  14. Work smarter â€" The entire system is web based so it can be accessed from anywhere you are.
  15. Automated forms include:
    1. New Account Form
    2. Comprehensive Compliance Form for every transaction
    3. Customer Correspondence
  16. Consolidated statements*: view or print the account value of your customers various mutual fund and annuity holdings on one simple statement instantly.
    *Optional Module available

Example of how logic built into Equalizer eases your job:
FINRA requires all transactions to be “reviewed” by a Supervisor. But not all transactions need the same level of attention. In addition, some Reps may require heightened supervision as a condition of their registration with the firm.

Equalizer solves this by reviewing all transactions electronically, then identifying those requiring "heightened review", meaning it either;

  1. Originated from a Rep whose activity is subject to heightened supervision or;
  2. The transaction triggers one or more compliance exceptions. These rules are preset, but may be easily customized by your compliance department.

In this manner your transactions are culled into a smaller group (selected by your criteria) for closer scrutiny. Print and make notes on this report to evidence FINRA that supervisory duties are being performed.

*Note: Brokerage account activity requires processing on proprietary clearing firm systems (such as NetExchangePro and Streetscape), this activity is unaffected by Equalizer.