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.
For both sponsors and advisors, correcting NIGO documents is time-consuming and expensive, up to 4x the cost2 of a document submitted correctly the first time.
Automating the subscription process with Altigo can reduce cycle time—and business rules, data validations, and e-signatures can significantly decrease the number of NIGO errors and time spent correcting them.
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/.
2Jeannine Mulliner, What a Difference a 0% NIGO Rate Makes (Aug. 12 2015), eSignLive, https://www.esignlive.com/blog/what-a-difference-a-0-nigo-rate-makes.
Altigo takes the
guesswork out of filling out a subscription document by only presenting relevant fields, verifying information as the advisor enters, and automatically mapping that information to a pre-filled subscription document.
Altigo’s electronic signature support allows subscription documents to be sent securely via email, where all necessary signatories can then review, fill out, and provide a valid digital signature without the need to print or receive a paper document through
mail or fax. Learn more.
Altigo aggregates status information from all outstanding e-signature and manual signature documents into a filterable list of investments in progress. A total dollar amount is visible for each stage, letting
users see dollars moving through the
process in real time.
Altigo includes a searchable showcase of available offerings, allowing advisors to source, diligence, and quickly subscribe
to previously difficult to access
When entering client information in Altigo, advisors are only presented with relevant fields, eliminating the need to comb through complicated documents to determine what information needs to be entered. A pre-filled subscription package can then be sent for electronic signature by investor clients, streamlining the process and reducing errors.
Sponsors and advisors 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 sponsors to quickly and easily track down individual investments and avoid a series of follow up phone calls and emails to determine status.
Our workflow utilizes security measures including end to end encryption, two factor authentication, internal and external auditing, and monitored role-based access. Our technology includes advanced firewalls, AES 256-bit encryption, SSAE 16 complaint hosting, data loss prevention, regular penetration testing, and other industry best practices. View our security policy here.
In addition to technology solutions, WealthForge can serve as a managing broker-dealer and/or as a broker-dealer of record, depending on your business needs.
» Both services include issuer and offering diligence, transaction processing, escrow account administration, and electronic record transfer to the issuer.
» With WealthForge as your syndicate manager, we can help manage back-office administration, including subscription package processing and timely commission payments to syndicate members.