Financial Services Solutions

Geneos Wealth Management

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Organization Profile

Geneos Wealth Management is a broker-dealer with 13 RIA offices, 71 OSJ offices and 150 remote locations. At over $315,000, Geneos has one of the highest per advisor GDC averages in the industry. Geneos is a two-time winner of Investment Advisor magazine’s broker-dealer of the year award.

Situation

Geneos needed a system that could keep up with the influx of as many as 60,000 paper documents per week with the ability to securely scan, share, store and route them for approval. It would also have to make documents accessible from the main office in Denver to advisors in field offices, while maintaining SEC and FINRA compliance.

Solution

One branch office had implemented a Laserfiche system and introduced the product to the home office. Geneos implemented their system in May, and, by September, it was deployed to over 50 offices.

Benefits

  • Remote offices can instantly send documents requiring overnight approval to the home office.
  • The firm has eliminated faxing altogether and has greatly reduced printing and mailing costs.
  • At a recent audit, staff provided auditors with 80,000 pages of documents—six months’ worth of correspondence—on a single CD.
  • IT staff have used the Integrator’s Toolkit to complete a number of integrations between their in-house applications and their document repository.
  • IT staff have also established a system for submitting paperwork electronically to National Financial and Pershing, two major clearinghouses. Staff can quickly submit documents stored in Laserfiche simply by clicking a custom toolbar button.

Laserfiche Components

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