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IBD Sends Docs to the Vault in the Cloud

Securities America announced today the introduction of its new Vault document storage system. The system is a paperless solution based on feedback from Securities America employees, advisors, and research on document storage solutions.

The new Vault integrates with the company’s client data management system and allows users to sort, filter and save search results. The system gives advisors free, unlimited storage and fits in with Securities America’s other progressive tools such as mobile access, electronic signature, and mobile check deposit.

“Our top technology priority is always making it easier for advisors to do business,” said Doreen Griffith, executive vice president and chief information officer of Securities America. “Significant time and cost savings can result from eliminating steps such as copying, faxing, mailing and storing documents. The new Vault meets SEC 17a-3/4 compliance regulations for storing and retrieving original documents that cannot be altered or deleted.”

Back in 2010, Securities America began scanning and uploading documents to the Vault and shredding the paper copies. Now, new account documents are scanned, uploaded, and shredded as soon as they have been signed by clients.

With more than 1,700 independent advisors responsible for $50 billion in client assets, the company has been able to eliminate the need for a number of filing cabinets through the process.