RIAs in the catbird seat to leverage straight through processing in 2012
The goal is to keep client information online in a 'living, breathing form' so that the live data can benefit everyone in the chain
Laser App Software
Document Management
Top Executive: Ed Beggs
Peter Giza
Robert,
Good article. I think you bring up an important point where you say:
“There’s also the idea that there’s a “silver bullet” or “magic pill” that will provide an end-to-end solution… [advisors | BDs] can choose their solutions and fund companies can choose their platforms. As long as this is the case, there is no single solution.”
By definition STP means from straight through from onboarding thru trading. This covers a wide and deep set of processes. Making STP a reality calls for standards for vendors and custodians. These do not exist outside of the their respective platforms.
The APIs and other open platform access being promoted by some custodians holds some promise. However these will be custodian specific and will require different access methods for each custodian or BD. All-in-all it sounds great – execution will be the proof.
Peter
