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WEALTH MANAGEMENT
Softek offers market leading cutting-edge technology solutions tailored to meet the diverse needs of today's wealth management landscape. With innovation and efficiency at our core we proudly offer a suite of solutions designed to empower a wide spectrum of wealth management firms. Whether you are a large financial institution, private bank, boutique wealth management firm, or, any other player in the industry, our technology is crafted to elevate your operations, redefine efficiency, and ensure you have full control of your business.
With over 30 years of experience implementing technology solutions, we have relentlessly pursued the enablement of wealth management firms to navigate complexities with confidence. Softek's solutions mitigate risk, strengthen controls, and reduce costs, all while enhancing operational efficiency. Our technology not only adapts to the ever-changing regulatory landscape but anticipates it, ensuring your firm remains at the forefront of compliance, effortlessly sidestepping headaches and focusing on what matters most, better servicing your clients. At Softek, our legacy is built on innovation, resilience, and an unwavering commitment to empowering wealth management firms for a future of sustained success.
Powering the fundamentals for Broker-Dealers
Softek provides robust and sophisticated functionality to power your trades, billing, and commissions activities. Automated processes efficiently organize and analyse incoming activity data for the compliance, operations, and accounting departments to deliver the requisite outputs critical to the running of your business. Complete flexibility allows you to configure the platform to reflect your own procedures and the way you do business, ensuring maximum efficiency with daily operations across your firm.
Control and configure
With protocols based on the WSP (Written Supervisory Procedures) in place, Softek allows the back office to control how trades and payment information are handled at every step from data entry to payout to the Registered Representative. The back office and Broker-Dealer can create and maintain highly customized investment portfolio plans. By setting system parameters to identify how your hybrid managed accounts should be performing, Softek centralizes the information and streamlines the tasks involved.
The result is a comprehensive approach that makes your trading and payments activities more efficient by increasing productivity, reducing ongoing costs, and providing detailed, consistent monitoring and compliance capabilities.
Investment Portfolio Plans for Hybrid BD & RIA Firms
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Built-in fee billing system integrated within the payment processing system
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Highly flexible, unified billing configurations
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Model management that also allows the firm to operate in its own advisory TPAM program with its own model “marketplace”
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Automated financial parameters to maintain compliance or a managed account’s balance
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Reverse churning rules to help review every account daily
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High cash alerts to help maintain a strong central core of cash management
Trades, Billing & Commissions
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Fully integrated payment processing system
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Multi-source data feeds with ability to add more as needed
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Produce Advisor accessible payroll statements and 1099s (MISC/NEC/DIV)
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Numerous standard reports available to provide insight on earnings within specified timeframes
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Automatically hold payments based on compliance or operational issues
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Honor virtually any payout arrangement
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Configurable payment cycle frequency
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Create rules to allow for notifications to flag transactions for review
Making workflow and back office processes more efficient
Softek's workflow solutions cater to a Broker-Dealer’s end-to-end functions, covering all of the challenges associated with managing a high volume of operational, compliance, and accounting tasks on a daily basis. Automated workflow tasks have access to all relevant information simultaneously and can trigger customizable workflow processes to automate daily operations. To aid all activities Softek incorporates a system built around books and records management and your Written Supervisory Procedures (WSPs). The result is enhanced functionality, increased efficiency, better monitoring, and more granular transparency with less cost and without the need for additional staff. The integration provides your firm with high-level client confidentiality, data privacy, and robust cyber security protection.
Creating synergy
Softek's solutions ensure that the back office and the Registered Representatives of the Broker-Dealer are all interconnected as a cohesive unit. It acts as an office traffic director to align communications, workflow management, compliance documentation, adherence to your WSP, and books and records management. The system establishes the foundation of productivity to include setting the conditions in which every user sees and interacts with data, powering compliance requirements and enforcements as well as instituting guidelines to ensure various departments are operating and communicating regarding various tasks at maximum efficiency.
Books & Records Management
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OFAC and CIP Compliance streamlined with risk alert submission
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Distribute official forms for download
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Electronic forms for compliance questionnaires
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LaserApp integration to generate and save forms
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8 Master reporting groups with 150+ real-time reports
Compliance Requirements
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Workflow task distribution, handling and notification
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Customer accounts concentration alerts, performance conditions, and billing
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Registered Representative’s Nexus experience, restrictions, and requirements
Project & Workflow Management
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Unified task-based system
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Integrated secure communication for operations and compliance-related matters
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Real-time status of requested or mandatory tasks
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Complete ticket lifecycle stored to provide dependable information archiving and retrieval
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Highly configurable back office controls for:
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Task types
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Workgroups
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Business rule steps
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Routing to multiple workgroups within the back office
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Configurable internal, office-centric workflow for individual offices
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Integrations with document management systems and e-signature providers
Automating compliance and supervision requirements
The regulatory and compliance requirements have long been a challenge to company resources for the modern Broker-Dealer. The operational tasks often detract from time better focused on creating financial value and developing relationships with clients. The regulatory demands change quickly and mistakes could have many consequences.
In anticipation of these demands, Softek's compliance and supervision modules are powered by a sophisticated, built-in WSP protocols that provide for an integrated and automated day-to-day compliance capability. The result is a holistic and comprehensive compliance approach with a more consistent monitoring capability than can be achieved via manual processes often used by many financial services firms. This enables a firm to run an efficient and effective compliance team focused on the daily tasks that matter most.
Accountability and transparency
Softek empowers the back office to focus on maintaining SEC, FINRA, State and/or Federal compliance, to streamline tasks and responsibilities, and support the Registered Representative in maintaining their duties as required by Reg BI. There are over 150 "out-of-the-box" reports covering various audit scenarios our clients have been asked about over 20+ years and ensure you can meet internal or external data requirements with ease. The reporting system gives the back office unparalleled granularity in extracting the data you need.
Compliance
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WSP enforcement
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AML capabilities (FinCen OFAC, KYC)
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Surveillance exceptions and reporting
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Branch audit reporting
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Check, signature and securities blotter systems
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Reverse churning
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Active trading
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Leveraged holdings
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Possible mutual fund switches
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Asset concentration alerts
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Risk tolerance/performance mismatches
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2440 Stock Proceeds
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Supervision
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Risk-based transaction review P&S blotter (Smart Blotter™)
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Firm-defined transaction coloring
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Extensive firm-defined transaction review and assignment capabilities
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Payment hold ability during transaction while supervision occurs
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Support for pre-approved orders
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FINRA license check on every transaction
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Transaction review can be assigned to anyone
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municipal principals vs. transaction supervisors
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Reg BI management
Reporting
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150+ standard reports accessible to Reps
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Configurable views with arbitrary column and group selections
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Customized reports per back office’s request
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Connections to business intelligence reporting software such as PowerBI
ADVISOR TOOLS & ANALYTICS
Does your firms need to provide advisors with the online tools they need to proactively manage their business wherever they are? Softek provides powerful insights and capabilities to advisors, helping them focus on the client activities that separate them from any other advisor.
With literally terabytes of data at your finger tips, it has never been easier for the financial professional to view key metrics across their book of business. The versatility of the Softek solution enables an advisor a holistic view of their clients by accessing accounts held at traditional custodian such as Schwab, Pershing, Fidelity, or the thousands of direct custodians, for example American Funds and Jackson National Life. Access to critical data is at your fingertips and available via your desktop, tablet, or mobile phone.
Gain powerful insights into your client base
Softek makes it easy to leverage powerful finance analytics to explore and analyse accounts in a unified fashion via a dashboard. The dashboard combines multiple sources of data to provide a complete and accurate financial picture of the assets you manage for your clients. This enables you to explore consolidated, near-real-time data in any direction directly from a single dashboard.
This not only streamlines financial reporting, it puts the power of sophisticated data analytics for advanced forecasting, budgeting, and planning directly into your hands. By spending less time preparing data using spreadsheets, Softek allows you to spend more time identifying ways to reduce costs and increase profitability.
A Look at the Interface
Our financial reporting dashboard can show you high-level visualization of key performance indices (KPIs) such as revenue by client, revenue by account, revenue by product, and revenue by custodian. With so much historical data in Softek's data repository, you can see your revenue over competing periods of time and track your growth trajectory by using easy-to-read visuals.
Ever wonder what your risk adjusted performance looks like for an account, a client, or your whole book? Our Risk Adjusted Performance dashboard will show you returns by each risk tolerance level and each investment objective. It will allow drill downs from the highest level to the actual end of a client account.
Account opening has never been easier, with a simple touch, you will launch one of the most sophisticated account opening tools in the industry. The system generates a unique and secure code which can be provided to your client or prospective client via text, email, or QR code. The client (or the financial professional) can enter the necessary data to open accounts with the custodian directly eliminating the need for duplicate data entry.
Protecting your business whilst ensuring efficient execution for your clients has never been more important. The need for control is heightened further when extending credit to your clients whether they have a simple portfolio, a multitude of complex derivative strategies, or, bespoke compliance requirements. Softek's comprehensive suite of pre and post-trade risk solutions empowers our clients to ensure they can seamlessly navigate these challenges.
PRE-TRADE CHECKS
Softek's customizable pre-trade risk, credit and compliance checks ensure our clients can automate cumbersome and costly pre-trade approval processes across hundred's of thousands accounts simultaneously. Becoming part of the order management workflow Softek incorporates a multitude of checks not typically possible by traditional OMS platforms and helps firms get in front of potential issues prior to execution, saving the firm from significant unnecessary effort later in the trade life-cycle.
Pre-Trade Controls
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Client has sufficient credit which includes:
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Existing open order book
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Complex strategies including multileg option orders
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Option strategy level compliance
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Notional limits
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Settlement risk limits
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In-house compliance & risk checks
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All asset classes covered
POST TRADE MONITORING
In times of volatility it's critical a business understands their client's live data so they can be proactive with potential risks to the firm and client but also provide powerful insights to advisors such that they can best manage their clients. Softek recalculates client accounts in near real-time based on updated positions, balances and pricing enabling the firm to do exactly that.
Post Trade Controls
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Real time analytics at the firm, correspondent, office, advisor, or client level including
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Market values, account equity, cash available
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Various margin outputs:
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Day Trading including time-and-tick
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SMA and Initial
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SRO Maintenance
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House Policy
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Risk outputs including
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0DTE option risk
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Greeks
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Stress shocks
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Customizable email alerting
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All assets classes covered
MARGIN OPERATIONS
Is your firm struggling with legacy technology that is inflexible, inefficient, costly and/or causing your margin operations team daily issues? Softek's market leading, private cloud solution gives your team the tools they need to run daily operations efficiently and with the flexibility they need.
Within a retail brokerage, the margin operations team is pivotal, overseeing margin accounts and ensuring smooth financial operations. Their responsibilities encompass evaluating and monitoring accounts, executing margin trades, and ensuring compliance with regulatory standards. Additionally, they serve as a key resource for clients, offering support and guidance on margin-related inquiries. In essence, the margin operations team plays a critical role in upholding the integrity and efficiency of trading activities within the brokerage.
As such, the margin operations teams rely heavily on Softek's technology to enhance their efficiency and effectiveness in managing various tasks. With the increasing complexity of financial markets and the ever-evolving regulatory requirements, technology serves as an indispensable tool for navigating the intricacies of margin trading operations.
Post Trade Controls
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SRO margin calculations - CIRO, SEC, FINRA
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House margin - strategy, portfolio and/or risk based policies
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Exception management - regulatory and house policies
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Guarantee / Guarantor Relationships
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Firm wide risk reporting
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Stress testing
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WhatIf scenarios
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Real-time recalculations
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Email alerting