Company: Summit Brokerage
Category: Broker/Dealers (Fewer than 1000 Advisors)—Transition Support
Initiative: eLaunch
Advisors transitioning to a new firm face stacks of paperwork for licensing, registration and insurance requirements. Summit Brokerage streamlined this process by creating eLaunch, an electronic system for onboarding advisors.
With eLaunch, new Summit advisors can complete their licensing and registration packets and fulfill insurance and compliance requirements in one sitting. They can also enter tax information and enroll in direct deposit for their weekly commissions. Once advisors are registered, the system helps them efficiently transfer their client account information electronically.
The program has shortened the time needed to license and register new advisors and dramatically reduced their paperwork load. The number of signatures required of new advisors dropped from 31 to 5, while compliance disclosure documents needing to be signed decreased from 12 to 1.
About the Company
Founded in 1993, Summit is one of the nation's fastest growing independent broker-dealers and has been recognized as the #1 Independent Boutique Broker-Dealer in the country and as one of the "Top 50 Independent Broker-Dealers" by leading trade publications. Its senior management has in excess of 250 years of experience in servicing the needs of both independent and wirehouse advisors. Summit's network of financial advisors is over 460 strong and growing, operating from over 330 offices throughout the United States. The firm’s goal is not to create a large firm with thousands of financial advisors; rather, it plans to maintain a boutique firm of high-quality, high-producing financial advisors.
For more information, please visit www.summitbrokerage.com
MARSHALL T. LEEDS
President & CEO, Summit Brokerage