AdvisorVault Combines E-discovery With Compliant Remote Backup

Nov. 17, 2010 - PRLog -- AdvisorVault now includes a full-featured E-discovery interface with its compliant remote backup service.  This combination makes AdvisorVault the only comprehensive solution designed specifically to help small broker-dealer firms achieve all the stringent requirements of rules 17a-3 & 17a-4. This is a simply and inexpensive option for remote backup of all electronic records, E-discovery and supervision. Naturally, AdvisorVault can also act as the designated third party (D3P) for its customers; this means one provider can now be used to outsource all these tasks.

“We noticed that small firms often had to work with several vendors to help them achieve specific data compliance rules from the SEC and FINRA. They had to outsource remote backup of documents to one company and use another to help with the archiving and supervision of email” Said Allan Lonz, president of AdvisorVault. “On top of this, they had to assign the designated third party (D3P) for each different function, and had to make sure both vendors could fill this role. It became complicated,” Lonz added.

“Using AdvisorVault allowed us to streamline the data compliance process and significantly reduce overall cost, I am really impressed with the solution” – Greg Gilbert President, Infinity Financial, Oakland Ca.

The Small Firm’s Challenge:

Achieving the specific demands of rules 17a-3 & 17a-4 is a main priority of broker-dealer firms. However, they often find it complicated, especially with the newly expanded rules from FINRA.  Traditional Email archiving is not enough; a wider range of data must now be included such as documents residing on servers, PCs, at branch offices, home users and on laptops. Also this data may be spread throughout the organization, so this now must also become part of the total data compliance strategy.

Realizing the challenges small firms face with SEC and FINRA regulation, AdvisorVault built a service around this specific need.  Essentially, the solution is designed to achieve three main tasks. (1) backup critical electronic records, (2) archival and supervision of email, and (3) the designation of a third party (D3P).  Priced at one flat monthly fee, the service simplifies data compliance, ensures all gaps are eliminated and gives customers a one-stop vendor for centralization of electronic record protections and supervision. The main objective of this offering is to ultimately help firms pass SEC and FINRA audits and to maintain a high level of customer confidence.

Benefits of AdvisorVault:

This combination of E-discovery with compliant remote backup creates these key benefits:

Compliant Remote Backup

- Captures all data from all locations,
- Eliminates the need for firms to perform backup themselves using tape, CDs/DVDs or USB drives,
- Consolidates remote backup using one standard software
- Easily facilitates the adding of branch offices, laptops and home users easily added to   the solution
- Ensures the quick recovery of data in the event of a disaster

Email Archiving

- Capture all email from all locations and users
- Allows searching and reviewing for non-compliant terms
- Flags can be created to block non-compliance emails
- Archive searches can be immediately download and given to auditors

Designated Third Party (D3P)

- AdvisorVault acts as the D3P
- One centralized source for the D3P
- All data can be reproduced in the event of an SEC audit

About AdvisorVault:

AdvisorVault, http://www.advisorvault.org, is the only remote backup provider specifically designed to help small broker-dealer firms achieve today’s stringent data compliance requirements. With our designated third-party status (D3P) we help small firms achieve all the required data compliance rules defined in 17a-3 & 17a-4, as well as the supervisory and disaster recovery demands contained in FINRA rules 3510 and 3010.

AdvisorVault contact:
Allan Lonz, President and CEO
alonz@advisorvault.org
Direct: 416-985-0310
Toll Free: 1-866-925-1941
http://www.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.