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FundPOINT Desktop
A best-in-class, Web-based solution for mutual fund sales efficiency and compliance
- Improves advisor productivity with Web access to mutual fund prospectus-based data
- Determines recommended share class automatically based on an investor's needs
- Deploys easily with no software installation and minimal training
Overview
FundPOINT® Desktop is an ASP (Application Service Provider) Web-based solution that helps brokerage employees do their jobs efficiently and compliantly by delivering Compliance Grade mutual fund data and a dynamic Share Class AnalyzerSM tool at the point of sale (POS).
By delivering compliance information through a familiar Web interface, FundPOINT Desktop eliminates the need to shuffle through possibly out-of-date paper prospectuses for the information. Instead, a single mouse click enables advisors to instantly retrieve the latest EDGAR-sourced disclosure information, such as commission structure, account minimums, Rights of Accumulation (ROA) and Letter of Intent (LOI) rules, market timing rules, commission waivers, and more.
NewRiver's FundPOINT Desktop provides ready access to all U.S. open-end mutual funds through a Web interface that is updated daily, representing the latest SEC filings on EDGAR.
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FundPOINT Desktop provides a comprehensive set of the information FINRA recommends an advisor consider when selling mutual funds to investors (see below table).
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Advisor Considers/Calculates: |
FINRA 02-85 Requirement |
FundPOINT Desktop Support |
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Pending transaction amount |
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Investment horizon |
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Anticipated investments |
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ROA (Rights of Accumulation) |
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- Previous purchases |
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- Family account linking |
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- Balances in other fund
company products |
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Commission waivers, including reinstatements |
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LOI (Letter of Intent) |
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Assets held away from
advisor firm |
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Share Class Analyzer Tool
The FundPOINT Desktop Share Class Analyzer tool helps advisors select the appropriate class of shares for mutual fund sales by providing assistance based on investor-specified investment parameters, fund limits, expense structures, Rights of Accumulation and Letter of Intent rules, and potential waivers. Because every investor and each fund is different, NewRiver designed Share Class Analyzer to help ensure an investor's time horizon and goals are married up with various fund options to help identify which share class best meets their needs. Part of this functionality includes an industry-only capability to include systematic withdrawals into the calculation for more accurate results.
Once the sale is complete, Share Class Analyzer provides a comprehensive document of what funds were offered and ultimately selected. Advisors can even generate a POS disclosure form complying with the SEC's proposed rule 15c2-3. Documentation supports the firm's branding, collects the signature by an investor for "print and sign" records, and is both print- and email-ready for internal archiving or trade surveillance purposes. As a result, broker/dealers, registered representatives, and other brokerage employees know they've not only met the compliance requirement, but also have recorded an audit trail.
Who's It For?
FundPOINT Desktop is for professionals who sell or service mutual funds including:
- Registered representatives
- Broker assistants
- Call center staff
- Sales desk agents
- Operations staff
- Compliance staff
Coverage
- All U.S. open-end mutual funds and their related share classes
Key Features
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Compliance Management |
- Compliance Grade Data - NewRiver's proprietary fund-specific data is updated daily and sourced directly from related mutual fund filings made with the SEC.
- Meets NASD Point-of-Sale Requirements - FundPOINT Desktop is market-tested to meet stringent NASD criteria for appropriate mutual fund disclosure and related sales practices.
- Ongoing Regulatory Management - NewRiver monitors and anticipates regulatory developments. Recent innovations include our FundPOINT Market Timing Data set and Share Class Analyzer tool.
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Full Coverage |
- Total Coverage of U.S. Funds - With over 23,500 unique investments at the share class level, including all load and no-load funds, FundPOINT Desktop provides total coverage of the funds a firm sells and services.
- Scalable Solution - With total coverage, FundPOINT Desktop easily integrates new proprietary and third-party funds as a firm's fund lineup grows.
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Robust Functionality |
- Real-Time Auditability - NewRiver's patent pending AuditAnchorsSM provide maximum transparency with dynamic links to the exact data point on the document stored on EDGAR.
- Share Class Analyzer Tool - NewRiver's desktop POS tool is designed to help determine the most appropriate share class for individual investors and features and industry-only capability to factor systematic withdrawals into every analysis.
- POS (Point-of-Sale) Documentation - The Share Class Analyzer tool documents the sale for auditability and generates a POS disclosure form, in print or electronic format, that complies with the SEC's proposed rule 15c2-3.
- Market Timing Rules - FundPOINT Desktop now includes fund-specific market timing rules that help define inappropriate trading frequency and thresholds triggering redemption fees and redemption fee waivers.
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Easy Installation |
- Plug and Play - A web-based, turnkey solution, FundPOINT Desktop requires no software and minimal training or IT support to go live.
- Market-Tested Results - FundPOINT Desktop has been tested, selected and implemented by the industry's largest and most sophisticated brokerage firms.
- Quality Customer Service - After implementation, NewRiver's Customer Support and Customer Care programs provide technical support and assistance to ensure ongoing, responsive customer service.
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Find out how FundPOINT Desktop can improve your firm's compliance and ROI in an informative new white paper by Hobson & Company. Download our free white paper entitled:"The Business Case for Improving Disclosure and Productivity with Web-Based Mutual Fund Processing."
Request White Paper
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