LaserFiche, the dominant player in the document management business, has launched a campaign to educate RIAs on the virtues of the virtual office, partly through the use of case studies showing how some leading advisory firms have implemented the technology to their benefit. Chris Wacker, senior VP of business development, noted that while LaserFiche has been serving some RIAs for years, the needs of growing advisory firms for integration with CRM systems and portfolio management systems, and the increased compliance burden for RIAs, is leading more firms to explore their document management needs.
…In early April, Charles Schwab launched three new index funds based on fundamental indexes rather than cap-weighted indexes such as the S&P 500. The new funds are Schwab Fundamental U.S. Large Company Index Fund (SFLNX); Schwab Fundamental U.S. Small-Mid Company Index Fund (SFSNX), based on 1500 small- and mid-cap companies; and Schwab Fundamental International Large Company Index Fund (SFNNX). There will be three classes of shares with different minimum investment amounts and expenses.
…Wolters Kluwer Financial Services released CCH Policies and Procedures Investment Adviser Manual Online, a Web-based tool that can help compliance officers create and distribute a compliance manual that meets SEC Rule 206(4)-7, which requires investment advisors to maintain policies and procedures for their investment advisory firms.
…ING has introduced ING Return of Premium Term life insurance, a policy issued by ReliaStar Life Insurance Company that offers individuals term life’s death benefit plus the ability to get their premiums back at the end of the policy’s term (excluding flat extras).