New Online Compliance Supervision System Fully Integrated into Back Office Brings Significant Advantages to Dealers
Toronto, ON – March 20, 2009 – Univeris announced today that it has developed Supervision+, an online compliance supervision system for investment dealers that helps streamline processes for branch and headquarters compliance managers by taking the industry from a manual process to online automation, available 24/7. Because Supervision+ is integrated into the dealer�s book-of-record, it provides access to a client�s full investing profile in one location, as well as a full audit trail of all transactions, time and date stamped, that cannot be altered.
“At Univeris, our focus is to build the best technology to help our clients grow their business and to provide them with superior competitive advantage,” said Richard Binnendyk, Univeris EVP and VP, Client Services. “One of our core areas of expertise is compliance management and Supervision+ is an excellent example of the marriage of technology and compliance for the benefit of our clients.”
Supervision+ launched with Sun Life Financial as its charter client in January 2009.
“We are very pleased to be the first financial enterprise on the market to use Univeris� innovative Supervision+ tool,” said Pat Carswell, Director, Dealer Operations, Individual Wealth Management, Sun Life Financial. “The compliance supervision process is a critical aspect of our business. With Supervision+ there is now a total transparency of information, along with a powerful filtering capability that makes information-gathering and reporting easier and more adaptable for our compliance teams, advisors and the auditors,” added Carswell.
“Certainly as compliance has evolved and grown,” said Binnendyk, “it presents an enormous challenge for financial services companies to collect transactions and client information from multiple sources.” Added Binnendyk, “We found that by embedding a compliance system into the existing Univeris EWMS* wealth platform we were able to provide immediate, real-time access to complete and accurate information and therefore eliminate the need for laborious manual systems that lacked the full documentation.”
Supervision+ also means protection for financial advisors, because it provides assurance that their compliance managers have ready access to complete and accurate information to protect and support those advisors who are active in the wealth business. In addition to this, Supervision+ can be used for business intelligence gathering such as trending data, on a timely and accurate basis, 24/7, at individual or regional levels.
Supervision+ is now available to Univeris� over 20 financial company clients, which support over 17,000 financial advisors.
About Univeris
Univeris, headquartered in Toronto, Canada, is a privately held company and is the leader in enterprise wealth management for the Canadian market. Founded in 1991, Univeris has over 75 staff and over 20 major financial services clients across Canada representing over 16,000 advisors with over CDN $70 billion in mutual fund assets under administration. Univeris offers the most comprehensive enterprise wealth management platform with fully integrated back office operations, compliance and front office practice management for financial advisors. The corporate website is www.univeris.com.
