More On Legal & Compliancefrom The Advisor's Professional Library
- Using Solicitors to Attract Clients Rule 206(4)-3 under the Investment Advisors Act establishes requirements governing cash payments to solicitors. The rule permits payment of cash referral fees to individuals and companies recommending clients to an RIA, but requires four conditions are first satisfied.
- RIAs and Customer Identification Just as RIAs owe a duty to diligently protect their clients privacy and guard against theft, firms also play a vital role in customer identification. Although RIAs are not subject to an anti-money laundering rule, securities regulators expect advisors to address these issues in their policies and procedures.
Most advisors use Windows-based machines in their offices to do everything from customer relationship management to financial planning, but two recent announcements by partners to advisors show that Apple is gaining a presence among advisors beyond placing AAPL into client portfolios.
MFS Investment Management said it has launched a iPad application for use by its U.S. wholesalers while its website, mfs.com, has been optimized to work with iPads and iPhones.
Like other mutual fund wholesalers, MFS’ wholesalers can now share documents and build presentations on iPads with advisors away from their desktop machines, and link to third-party analytics to perform due diligence on MFS mutual funds.
Laserfiche, the international document management software firm, now offers its Laserfiche Mobile users the ability to use an iPhone’s onboard camera (or an iPad’s, for that matter, though fewer iPad owners use its camera) to take photographs of documents. Those photographed documents are converted into images that are securely placed into the advisor or broker-dealer’s document repository in the same way that an iPhone user would email a photo.
Once in the repository, an advisor can use Laserfiche Mobile for iPad to view that photographed document immediately, or have other authorized LaserFiche users view that document. Then, using Laserfiche Mobile’s Document Viewer, the advisor or compliance officer can email, print or rename the document, all while using an interface familiar to iPhone users.
The process, as demonstrated by Laserfiche engineer Brett Hickinbotham in an interview Monday in New York, shows how simple and intuitive Laserfiche has made the process of uploading and managing documents using an iPhone and iPad.