AdvisorVault Unifies Compliance Solutions with Microsoft 365 for Financial Firms
In an era where regulatory compliance is becoming increasingly crucial, AdvisorVault has stepped up to streamline electronic records retention for financial firms. The company announced that it has become a Microsoft 365 Cloud Service Provider (CSP), integrating its 17a-4 D3P service with Microsoft’s suite to help clients wholly comply with FINRA Rule 17a-4.
Many small financial firms struggle to meet the retention demands enforced by financial regulators like FINRA. Allan Lonz, the President of AdvisorVault, noted that the firm recognized these challenges, particularly for businesses with fewer than 20 registered representatives. For these smaller firms, navigating compliance requirements can be daunting, especially when it involves managing records across multiple platforms—some in house and others in the cloud. This fragmentation often leads to compliance gaps that can jeopardize a firm's standing during audits, putting them at risk for fines or penalties.
In response to the clear need for a more robust option, AdvisorVault's decision to become a Microsoft 365 CSP was rooted in the desire to offer a seamless and compliant cloud solution for these firms. By bundling their 17a-4 service with Microsoft 365, AdvisorVault created a unified platform that not only facilitates record retention but also enhances cybersecurity measures—essential in today’s digital landscape.
The transition requires firms to move personal records to OneDrive and company data to SharePoint. Migrating email systems to Exchange with Microsoft Teams also forms part of the overhaul, ensuring all communications and documents are stored in compliance with FINRA standards.
AdvisorVault aims to close existing gaps in electronic record management by encouraging firms to eliminate hybrid storage systems. The ultimate goal is for firms to migrate entirely to the cloud, which would not only simplify data management but also improve audit preparedness—eliminating the risk associated with physical records and under-secured digital files. By shifting to an all-cloud model, firms can enhance data integrity and security, aligning their operations with the necessary regulatory frameworks.
Furthermore, AdvisorVault has developed comprehensive tools tailored for firms within Microsoft 365. This includes implementing a FINRA-level cybersecurity plug-in, sophisticated monitoring systems, and advanced email filtering. Records archived from the cloud will be maintained for seven years in accordance with compliance requirements, providing yet another layer of assurance for financial institutions.
AdvisorVault stands out in the compliance landscape as a FINRA D3P, offering a turn-key solution for the archiving, retention, and supervision of electronic records, whether in-house or in the cloud. Their service model ensures all necessary documentation is provided at a flat monthly rate, making compliance predictable and manageable.
As financial firms continue to embrace digital transformation, having a compliance partner that listens to their needs is more important than ever. With AdvisorVault's new integration of Microsoft 365 with their 17a-4 D3P service, small to medium-sized firms now have a reliable way to achieve compliance. This innovative collaboration not only meets regulatory standards but also simplifies the cloud transition, ultimately paving the way for a more secure and efficient operational model. Firms interested in streamlining their compliance processes and leveraging this unified cloud solution are encouraged to connect with AdvisorVault to learn more about how their services can be tailored to meet specific needs.
For further information regarding AdvisorVault’s offerings, contact Allan Lonz at direct 416-985-0310 or through their website at www.advisorvault.com.
Understanding the Challenges
Many small financial firms struggle to meet the retention demands enforced by financial regulators like FINRA. Allan Lonz, the President of AdvisorVault, noted that the firm recognized these challenges, particularly for businesses with fewer than 20 registered representatives. For these smaller firms, navigating compliance requirements can be daunting, especially when it involves managing records across multiple platforms—some in house and others in the cloud. This fragmentation often leads to compliance gaps that can jeopardize a firm's standing during audits, putting them at risk for fines or penalties.
A Comprehensive Solution
In response to the clear need for a more robust option, AdvisorVault's decision to become a Microsoft 365 CSP was rooted in the desire to offer a seamless and compliant cloud solution for these firms. By bundling their 17a-4 service with Microsoft 365, AdvisorVault created a unified platform that not only facilitates record retention but also enhances cybersecurity measures—essential in today’s digital landscape.
The transition requires firms to move personal records to OneDrive and company data to SharePoint. Migrating email systems to Exchange with Microsoft Teams also forms part of the overhaul, ensuring all communications and documents are stored in compliance with FINRA standards.
Bridging Compliance Gaps
AdvisorVault aims to close existing gaps in electronic record management by encouraging firms to eliminate hybrid storage systems. The ultimate goal is for firms to migrate entirely to the cloud, which would not only simplify data management but also improve audit preparedness—eliminating the risk associated with physical records and under-secured digital files. By shifting to an all-cloud model, firms can enhance data integrity and security, aligning their operations with the necessary regulatory frameworks.
Furthermore, AdvisorVault has developed comprehensive tools tailored for firms within Microsoft 365. This includes implementing a FINRA-level cybersecurity plug-in, sophisticated monitoring systems, and advanced email filtering. Records archived from the cloud will be maintained for seven years in accordance with compliance requirements, providing yet another layer of assurance for financial institutions.
The Turnkey Approach of AdvisorVault
AdvisorVault stands out in the compliance landscape as a FINRA D3P, offering a turn-key solution for the archiving, retention, and supervision of electronic records, whether in-house or in the cloud. Their service model ensures all necessary documentation is provided at a flat monthly rate, making compliance predictable and manageable.
Conclusion
As financial firms continue to embrace digital transformation, having a compliance partner that listens to their needs is more important than ever. With AdvisorVault's new integration of Microsoft 365 with their 17a-4 D3P service, small to medium-sized firms now have a reliable way to achieve compliance. This innovative collaboration not only meets regulatory standards but also simplifies the cloud transition, ultimately paving the way for a more secure and efficient operational model. Firms interested in streamlining their compliance processes and leveraging this unified cloud solution are encouraged to connect with AdvisorVault to learn more about how their services can be tailored to meet specific needs.
For further information regarding AdvisorVault’s offerings, contact Allan Lonz at direct 416-985-0310 or through their website at www.advisorvault.com.
Topics Financial Services & Investing）
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