New York, July 8, 2002âAutomated Financial Systems Corporation, a leading provider of software, service and support for brokerages and investment professionals, today announced Investpoint, the first and only affordable, comprehensive investment professional platform that meets the needs of independent registered representatives, investment advisors and full service retail brokers. Leveraging proven AFS online technology and advanced feature functionality, Investpoint singularly meets the business and technology requirements of brokerages and clearing organizations seeking a comprehensive, centralized tool for their investment professionals that offers robust trading functionality, real-time market data, news and research, and integrated portfolio management through direct connections to their back office.
"We are committed to empowering every brokerage with the same state of the art technology leveraged by Wall Streetâs largest firms at a fraction of the cost," said Terry Thorsen, President, Automated Financial Systems. "As the first and only affordable alternative for brokerages that outsource their technology, Investpoint leverages six yearsâ experience designing, building and supporting brokerage solutions to help firms âeven the scoreâ in the race to attract top producing brokers, clients and assets."
Through advanced portfolio management and robust trading functionality, Investpoint enables every brokerage, for the first time, to increase productivity and customer reach, improve performance, generate revenue, and attract and retain the best investment professionals. A seamless, integrated platform, Investpoint gives investment professionals access to a breadth and depth of data typically reserved for the industryâs largest firms. As a result, specialized firms will be able to broaden their offerings, reach more customers and hire and keep the best registered representatives and investment advisors.
Based on an open architecture, AFSâ robust, proven software integrates directly with the back office and scales to meet every brokerageâs growing needs. Deployed by some of Wall Streetâs most recognized firms, all of the companyâs brokerage solutions are flexible, dynamic and database-driven, backed by premium levels of customer service, and available through service bureau or enterprise licenses. As the first and only affordable, browser-based investment professional platform, Investpoint offers the following comprehensive features:
Robust Tax Lot Accounting System and Real-time Aggregated Household View
Back office activity and corporate action feeds or the brokerageâs preferred portfolio management system power the Investpoint portfolio system. Tax lot accounting becomes easily accessible through a centralized tool, enabling investment professionals to view client transaction histories quickly, provide more timely and informed recommendations, and rapidly generate tax forms. Investpoint makes this possible by adding functionality to the back office through a presentation layer that provides access to tax lots, historical information and customized applications, augmenting the existing repository value. Built on AFSâ proprietary caching technology, Investpoint boosts system performance without sacrificing the data integrity available by pulling account data directly from back offices in real-time.
Investpoint leverages this same caching technology to provide the industryâs only real-time, aggregated view of account status for an entire household. With a comprehensive, global view of accounts, Investpoint gives investment professionals the ability to manage their business holistically by tying individual brokerage accounts into a household and working with an aggregated view of assets and activity for that household.
Easy to Use Productivity Tools
Investpointâs streamlined new account opening functionality provides increased efficiency and error-free account openings for investment professionals, eliminating home office paperwork and establishing client accounts quickly for a good first impression. Moreover, the productâs easy integration with third-party vendor products, research and proprietary solutions give investment professionals convenient, centralized access to all of the resources they need in a single tool, thereby increasing productivity and results. In addition, Investpointâs powerful, interactive reporting extends the depth and breadth of available information, offering investment professionals new insight into their entire book of business, increasing their understanding of obscured customer opportunities and their full revenue potential. Finally, with total broker control of online access Investpoint enables full service brokers to manage online access and trading permissions for their clients, allowing them to track all customer activities and provide the appropriate level of control or customer service. Branch managers, office managers and assistants are all supported at different permission levels while the touch-point remains with the representative.
Automated Financial Systemsâ proven technology has propelled its customers, including brokerages Wall Street Access and J.B. Oxford, to the top of Barronâs annual brokerage survey with four star industry rankings. Backed by redundant data centers, complete with leading edge equipment and connectivity, Investpoint is the only 100 percent reliable Internet trading solution that meets stringent up-time requirements for the brokerage industry. Quick and easy to deploy, this browser-based system also dramatically lowers or eliminates IT support costs for brokerages.
Pricing and Availability
Investpoint is available immediately and can be deployed in less than 60 days through AFSâ existing infrastructure and connectivity to major back offices. Advanced portfolio functionality including basket trading, block trading, and average cost modules will be available in Q3. Pricing is customized to meet any firmâs cost structuring requirements with a typical cost of under $150 per investment professional per month, and includes Automated Financial Systemsâ premium customer service and technical support.
About Automated Financial Systems
Automated Financial Systems delivers the best, most affordable software and services for brokerages seeking robust trading functionality, real-time market data, news and research, integrated portfolio management, and innovative, customized middle office solutions. Its flexible and reliable systems enable brokerages to increase productivity, reduce time to market, improve performance, generate revenue, and attract and retain the best investment professionals. Founded in 1996 by the developers of the first online trading system, Automated Financial Systems has delivered comprehensive, outsourced Internet brokerage products, tailored solutions, and superior service and support for such companies as J.B. Oxford, Wall Street Access, Primevest, Hilliard Lyons and PNC Bank.