Eliminating Paperwork in Search of Freedom

BY EXEMPTEDGEINC | June 10, 2019 8:58 PM

By Stephen Preston “Microsoft Excel is not an optimal solution for the EMD space.” – An Exempt Market Issuer

One thing I love about this industry is the passion and the flow of ideas that are constantly discussed as to what we can do to improve our marketplace and take it to new heights. While there are no shortage of suggestions, an increasingly common theme among these conversations became the need to improve the technology with which we all work.

Until recently, we were at a disadvantage to other wealth management industry participants because we do not have the tools, integrations, and systems at our disposal that banks and large mutual fund/IIROC dealers have been developing. With competition for investor dollars as fierce as ever, and new fintech solutions emerging all the time that allow investors access to more options, we need to commit to technology and continuous innovation – and we need to do it now.

That being said, the adoption of technology is not enough. Emphasis must be put on choosing and committing to the right solutions. Great technology creates efficiencies, automates tasks, reduces human error, enhances communication, and streamlines workflows. On the flipside, a lack of technology – or even worse, the adoption of poor technology – creates headaches, security risks, and a lack of engagement amongst staff, thus turning it into a huge waste of time and money.

What’s the #1 Tech Headache or Problem You Face in the Exempt Market?

Wanting to learn more about the technology headaches and challenges facing our industry, I put together a survey and reached out to over twenty key experts in the exempt market. These professionals came from an assortment of EMDs, Issuers, and their backgrounds varied from executives, dealing representatives, Chief Compliance Officers, etc.

The survey asked only one question: “What is the #1 Technology headache or challenge you face in the exempt market?” The participants were asked to select one option from the following list: 1. Software solutions were not built for the exempt industry 2. The large amount of paperwork (lack of online documents and digital signatures) 3. Lack of integration and data sharing between parties (Issuers and EMDs etc.) 4. Too much manual data entry (loss of time, prone to errors etc.) 5. Other

The Results: What Industry Thinks About Technology … View the full Article!

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