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New Software Launched to Simplify Investment in Alternatives

Los Angeles-based Docupace Technologies LLC, a leading financial services technology provider, has launched its new ePACS AI Solution software. The ePACS AI Solution streamlines the entire alternative investment process while addressing compliance standards, allowing advisors to simply and efficiently meet the increasing demand for alternative investments.

The ePACS AI Solution will: Automatically generate a tailored list of clients within an advisor’s book of business who are eligible for the public, non-traded alternative investment vehicles available on his or her broker-dealer’s platform. In addition, it will ensure that investment recommendations comply with product eligibility and concentration regulations. Also, it is intended to reduce paperwork redundancies by incorporating electronic signature functionality and simplify the investment process to ensure transactions are processed in a documentable, efficient and in good order SEC 17a3 and 4 compliant manner.

According to Docupace, with the software, investor proceeds are received by issuers for investment more quickly, distributions can be earned sooner, commissions can be paid to selling group members in a more timely fashion, and broker-dealers are provided a solution to maintain a consistent approach to managing state suitability guidelines.

Presently, 47 jurisdictions across the country have approved the ePACS AI Solution electronic signature protocol, making it the first such program to include this key functionality for alternative investments in the marketplace.

“For several years, state regulators have focused individual and coordinated actions to address systematic failure on the part of broker dealers to consistently and accurately apply intricate state suitability standards,” says Louisa Quarto, president of Realty Capital Securities LLC. “In just the past few months, millions of dollars in fines, settlements and restitution have been paid out for failure to adhere to these protocols.

Many of these violations happen accidentally as the complex rules surrounding product eligibility and concentration change frequently, leaving even the best-intentioned advisors and broker-dealers vulnerable. The ePACS AI Solution purports to answer this industry challenge – ensuring a higher standard of protection and safety at all levels of business, and empowering financial services professionals with a solution to address the increasing demand among retail investors for yield-oriented solutions.”

Docupace CEO and founder, Michael Pinsker, adds that this “sets a new standard for the financial services industry.” Until now, he explains, “no single solution was available to facilitate the extensive federal and state regulatory requirements related to these types of investments.”

Pinsker explains that the transparency brought to such transactions mitigates many of the potential rules-based compliance issues associated with public, non-traded alternative investments. “The customer wins, the advisor wins, the regulators win—the industry wins.”

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