Alternative investment subscriptions continue to be manual and paper-laden. Errors are very common on paper documents – up to 60% of subscriptions are considered NIGO (not-in-good-order)1 and must be corrected before the investment can be completed.
Tracking down and correcting NIGO documents results in financial professionals spending more time on administration and less time selling.
Business rules, data validations, and e-signatures can significantly decrease the number of NIGO errors and time spent correcting them. Automating the subscription process with Altigo can reduce cycle time, which results in improved operational efficiency.
1 AltsEdge Broker-Dealer Series: The Long and Winding Road to Straight Through Processing [Webinar] (Feb. 2019), Institute for Portfolio Alternatives, https://www.ipa.com/events/altsedge-broker-dealer-series-the-long-and-winding-road-to-straight-through-processing/.
When entering client information in Altigo, advisors and registered representatives are only presented with relevant fields, eliminating the need to comb through complicated documents to determine what information needs to be entered. And frequently used firm documents can easily be mapped and attached for a single-signing experience. This means less time wasted on administrative tasks and more spent with clients.
Financial professionals can track investments through a convenient transaction activity dashboard, which provides the ability to see subscription activity and status. The dashboard is customizable and filterable, allowing advisors to quickly and easily track down individual investments and avoid a series of follow up phone calls and emails to determine status.
Thanks to business rules, data validations, and pre-filled subscription documents that can be sent to investors for electronic signatures, subscriptions using Altigo can be completed in a fraction of the time that manually processed investments take. This results in shorter cycle time and reduced administrative backlog.