Tag: WealthServ

Harbour is a full-service broker dealer providing support for brokerage and direct business. Their philosophy values long-term relationships and looks to provide outstanding, personalized service to their representatives.

Harbour was looking to streamline its back office and improve service to their representatives. However, the challenges of using multiple back-office systems prevented them from reaching this goal:

• There was much duplicated effort entering the same information into multiple systems
• Valuable staff time was spent on data scrubbing and reconciliation rather than assisting representatives
• Representatives had to sign in to multiple systems to access the information they needed
• Harbour faced limitations in delivering vital information on a timely basis to representatives.

Harbour replaced their multiple systems with WealthServ to provide one central, integrated solution. iPipeline worked with Harbour to configure WealthServ to suit their specific needs:

• Streamlined commissions processing
• Enhanced compliance features
• Consolidated investment portfolios
• Representative access
• Easy-to-use Client access portal
• Electronic document storage

The major result for Harbour was that they were able to significantly reduce the amount of staff engaged in mundane back-office tasks:

• Effort on commissions processing was reduced by 75%
• Data scrubbing effort was reduced by 80%
• The data entry team was reduced from 6 people down to 3

“We have high-caliber people and it was great to reassign them to higher value tasks such as supporting representative sales” said Meyer.

In addition to reducing work effort, Harbour was able to meet their target of providing information to representatives within 24 hours of receiving it. “It used to take us a week to compile the information for representatives, now we can do it within 24 hours.” Meyer continued, “The feedback I get from our staff is ‘I don’t know how we managed before’, that’s the difference WealthServ has made.”