AdvisorVault Offers FINRA Compliant Remote Backup Solution Tailored to Small Broker-Dealer Firms

April 22, 2010 - PRLog -- In the wake of sizable fines from FINRA, broker-dealers are now on high alert to eliminate gaps in their data compliance strategies. Rule 17a-4 contains some very specific language and poses huge challenges, especially for small firms.  Therefore, BDs must fully realize the urgency of a complete remote backup policy for critical electronic records. It is a “must have”, but they simply lack the expertise to manage data compliance in-house. They have to look a third party providers to help them backup critical data.

But choosing the right provider is not easy - literally hundreds of companies offer remote backup. However, few understand the unique demands of small broker-dealer firms.

“Achieving today’s stringent data compliance regulation is complex and small firms just don’t have the in-house resources to do it themselves,” said Allan Lonz, Founder and CEO of AdvisorVault http://www.advisorvault.org, a FINRA compliant remote backup provider tailored to meet the needs of small broker-dealer firms.

“They have to outsource most of their data compliance functions, but very few providers understand the unique challenges they face. A solution is needed by small FINRA firms which is simple to manage, inexpensive and accomplishes all today’s complex compliance rules,” Lonz added. “Choosing the wrong backup provider can be very costly”.

AdvisorVault’s data compliance “Out of the Box” approach is an all-in-one appliance that simply plugs into the broker's network. It includes all the software and hardware to backup emails, books and records, system configuration - virtually every kind of file type. The advanced software automatically crawls the network and detects important data. It then transfers it immediately to the remote data center managed by AdvisorVault. Changes to this data are backed up every night thus ensuring complete up-to-date compliance.

Additionally, AdvisorVault “snap-shots” electronic records on a regular basis and copies it to non-rewriteable disks to ensure 17a-4 retention rules are achieved. And in the event of a disaster, data is quickly restorable to the original location or to an alternate site. With this capability, AdvisorVault is also a key component of its customer’s business continuity plan and can fully integrate into FINRA’s Small Firm Emergency Partner Program.

AdvisorVault is the only designated third party provider focusing on unique data archiving and supervisory demands the small broker-dealer market. The product is offered for one small monthly fee and includes all the hardware and software to ensure remote backup, long-term archiving and recovery of electronic records in accordance with SEC rules 17a-3 and 17a-4.

AdvisorVault Contact
http://www.advisorvault.org
Allan Lonz
President and CEO
1-866-925-1941 x1
alonz@advisorvault.org

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AdvisorVault - A FINRA designated storage provider that helps small broker-dealer firms achieve the requirements of 17a-3 & 17a-4, simply and inexpensively. The TURNKEY solution includes secure remote backup, long-term archiving and disaster recovery.