HOLBROOK, NY--(Marketwired - October 25, 2016) - Continuing to build on its robust technology platform, American Portfolios Financial Services, Inc. (APFS) -- a privately-held, independent broker/dealer that services financial advisors nationwide -- has successfully deployed the second phase of its ongoing E-sign functionality to facilitate the firm's fastest-growing segment of the business, advisory services, within its Web-based business processing and workflow system, STARS.
"As a result of this latest enhancement, our family of affiliated financial advisors can now have advisory account documentation signed electronically," said APFS COO Dean Bruno. "This simple process allows APFS' investment professionals to transition their business from commission to advisory without inconveniencing the client to come into the office." This upgrade to STARS' existing functionality, which includes 16 new American Portfolios Advisors, Inc. (APA) documents that can be signed electronically, sets the stage for impending client documentation to be E-sign eligible.
The initial roll out of the E-sign functionality began November 2015 with the SSN New Account Client Signature Page. The current process allows advisors to execute various paper-related transactions in a completely electronic way, dramatically raising the bar on an advisor's expedited service to their clients. STARS is an intuitive proprietary technology platform developed by American Portfolios (AP), which serves as the hub through which all business, new accounts, and transactions are entered and recorded. First and foremost, advisors must establish client information within STARS by creating a digital New Account Form (NAF), which includes the basic background information, financial status, and investment objectives used to open and maintain customer accounts. This process was significantly streamlined in August 2015 with the rollout of Unified Client Sign (one client signature page), eliminating client signatures on NAFs for each legal entity/registration. Through E-signature, this innovative paperless function simplifies a once-complicated and time-consuming process, helping APFS' investment professionals to run their practices more efficiently.
STARS software is made for and by financial advisors, functioning as a practical business aid from several perspectives, including operations, supervision and compliance. Effectively, it is an extension of an investment professional's back office and, through its ongoing enhancements, allows business to be processed quickly and efficiently so that more time can be spent strengthening relationships with existing and new clients.
As outlined in its ambitious five-year growth plan, APFS will continue to deliver highly-valued services, programs and products to its affiliated financial advisors and their clientele. The firm looks forward to expanding and expounding on its brand promises and value proposition(s) as a leading industry service provider for independent financial professionals.
About American Portfolios
Headquartered in Holbrook, N.Y., APFS is a full-service, independent broker/dealer and member firm of FINRA and SIPC, offering a complete range of financial services, including personal financial and retirement planning, securities trading, mutual funds, access to investment research, long-term care planning, insurance products and tax-free investing. Fee-based asset management is offered through its sister subsidiary, American Portfolios Advisors, Inc., (APA), an SEC Registered Investment Advisor. Both entities, along with technology division American Outsources, LLC (AO,) collectively reside under the legal entity American Portfolios Holdings, Inc. (APH). Full-service securities brokerage is available through a clearing firm relationship with Pershing, LLC, a BNY Mellon firm, the securities of which are held on a fully disclosed basis. The company currently serves 804 independent investment professionals located in 368 branch locations throughout the nation. It was named Broker-Dealer of the Year* (Division III) by Investment Advisor magazine in 2015 and 2016, as well as the No. 1 Best Small/Mid-Size Company to Work for in the state of New York for 2016 by the New York State Society for Human Resources Management (NYS-SHRM) and the Best Companies Group (BCG).
*Based on a poll of registered representatives conducted by Investment Advisor magazine. Broker/dealers rated highest by their representatives are awarded "Broker/Dealer (B/D) of the Year."
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