BrokerAudit
is an integrated management tool developed by Protegént, Inc., which evaluates
and monitors all securities transactions and account activity in your customer's
accounts, on a daily basis. BrokerAudit will import data from your custodial
data provider, analyze that data daily and provide daily suitability-based
exception reports. BrokerAudit will then immediately report any activity
that falls outside of your clients' risk tolerance or investment guidelines.
With BrokerAudit you can customize compliance algorithms and alerts, customize
management reports, elect to share the reports with your employees or maintain
strict confidentiality. Billing can be split to allow you to charge brokers
directly for this service. With BrokerAudit, you can monitor your customer's
accounts for security quality, mutual fund breakpoint purchases, mutual
fund and annuity swaps, flip trades, account velocity / churning, managed
account fees, excessive commissions, security market value loss, large trades,
excessive commissions, account turnover, low priced securities, excessive
margin balance, security over-concentration, distributions & journals, proceeds
transaction commissions, excessive quantity of trades, restricted account
trading and short sales to name just a few. Each of these alerts is calculated
based on the account's specified risk tolerance and may be customized to
match your firm's compliance standards.How does it work? Most investment firms already receive data from their clearing firm to drive their backoffice system. Unfortunately backoffice systems do not monitor for compliance issues. BrokerAudit reads this data and analyzes it, generating alerts when transactions fall outside a client's risk parameters or for conditions of potentially unethical practice. BrokerAudit currently support data from many of the major clearing firms.
Through the program's user interface you may view alert data by firm, branch, broker, client or account. BrokerAudit also presents transaction, position and account balance data. You may also print reports detailing alert history.
You, as a supervisor have the ability to view reports by firm, broker or account. You may also designate others in your firm to have branch or broker level access to data. Access is controlled by username and password. BrokerAudit is a web-enabled application that runs on your corporate intranet. If you prefer BrokerAudit may be delivered to you via the internet from Protegént secure web server.
How do I find out more about BrokerAudit? MGL Consulting Corporation clients' may receive a free demonstration of this product, by contacting Melinda G. LeGaye @ 281-367-0380 or via email. For pricing and technical information regarding BrokerAudit, please contact Carla Pipes at Tel: 781-340-4707 or Cell: 617-833-5408 or via email.
Click here to download the BrokerAudit PowerPoint Presentation (279K - 6/27/02)
What do I need to run BrokerAudit? BrokerAudit is a web enabled database application designed to run on your corporate intranet. It may also be deployed via the internet on BrokerAudit's secure web server.
Server System Requirements: Microsoft Windows NT Server 4.0 (Service Pack 6a) or Windows 2000 Server (Service Pack 1) Microsoft Internet Information Server (comes with NT Server 4.0 or 2000 Server) Microsoft SQL Server 7.0
Recommended Server Hardware: 500 MHz Pentium-compatible processor 512 Mbytes of RAM 10 Gigabytes of available disk space (This size requirement may go up depending on the number of brokerage accounts and transactions the system must process) Tape Backup or other backup capable of backing up your database.
Client System Requirements: Windows 95/98/NT/2000 with Internet Explorer 4.0+
MGL Consulting Corporation is an independent company and is in no way affiliated with Complinet.com, Protegént, Inc.; BrokerAudit; Microsoft, Inc.; Adobe Inc. or any other company mentioned on this website. All references to the software products of these companies are trademarked, owned and operated by these companies.