DTCC Forms Alternative Investment Advisory Committee
The Depository Trust & Clearing Corporation
(DTCC) has formed an industry advisory committee to develop an
automated, centralized and streamlined approach to processing
alternative investment products.
Comprising a cross-section of the industry, the
advisory committee will focus its immediate attention on five areas:
new accounts and subscriptions, purchases and redemptions, commissions,
position reporting and account maintenance. Additional areas of focus
may include data exchange, offshore transactions and exchange-traded
funds. The goal is to develop automated transaction processing,
settlement reporting and other associated services to the manufacturers
and distributors of alternative products, including trade reporting and
processing, commissions processing, valuation and position reporting
and account maintenance.
The alternative investment market, including hedge
funds, managed futures, private equity/debt and other nontraditional
stock and bond instruments, has boomed in recent years. The majority of
these trades are processed manually, making the complex paperwork
labor-intensive and time consuming. Available technology is largely
expensive, unscalable and proprietary, and there is no standard system
for processing trades.
DTCC is working closely with the industry, as it did
in creating Fund/SERV in 1986, says Ann Bergin, managing director for
mutual fund services at DTCC and head of the advisory committee.
Fund/SERV is the industry standard for processing and settling a broad
range of investment funds and for linking fund companies with their
distributor partners, including broker-dealers, banks and financial
planners.
Waterhouse Issues Guide To Help Registered Reps Become RIAs
TD Waterhouse Institutional Services has introduced
a comprehensive program for registered representatives who want to
transition into independent registered investment advisors (RIAs).
A step-by-step guidebook, Your Roadmap to
Independence, provides a framework for evaluating whether to go
independent, a strategic approach to the long-term implications and a
roadmap for creating an efficient back office.
TD Waterhouse commissioned Moss Adams to create the
guide. They also developed the Transition Assistant, an online tool
that shows related costs and expenses.
For a free copy, or for more information, call (800)
934-6124 or visit TD Waterhouse at www.tdwaterhouseinst.com.
John Hancock Launches Succession Planning Sales Tool Kit
John Hancock has introduced a new business
succession planning sales tool kit to help advisors educate clients
about succession planning. The kit covers all aspects of succession
planning, from simple key-person insurance plans to more complex
buy-sell arrangements.
The kit contains a variety of materials including
sales strategies, case studies, a producer guide and a CD-ROM. It comes
with comprehensive support from John Hancock's Advanced Markets Group.
To request a kit, please call (888) 266-7498 and select option 3, or
e-mail [email protected].
Quick Entry Wizard Streamlines TOTAL Planning System Data Entry
Money Tree Software has developed a new Quick Entry
Wizard as an addition to its TOTAL Planning System. The Quick Entry
Wizard moves smoothly through the input of the essential data needed
for creating plans.
The Quick Entry Wizard is available both as a
desktop and Web-based tool. Fully functional versions of the TOTAL
Planning System with the new Quick Entry Wizard are available for
download from www.moneytree.com/downloads.htm.
Protective Life Launches Variable Annuity Product
Protective Life Insurance Company has released the
ProtectiveRewards B2A variable annuity, which reduces the cost of
owning the annuity over time by providing an annual credit that, in
effect, offsets some of the ongoing fees.
Prospectuses may be obtained by calling (800) 456-6330.
Lincoln Benefit Offers New Features For The Saver‚s Index Annuity Series
The Saver‚s Index Annuity series now includes a 50
basis points higher cap for accumulated values over $100,000 and a
provision in which customers can remove their money without surrender
charges if the cap decreases by two percentage points or more, under
changes announced by Lincoln Benefit Life, an Allstate Company.
Allstate agents and independent financial
representatives appointed to sell Lincoln Benefit Life Company products
may obtain more information by registering and logging onto
www.accessallstate.com.
ADVISOR EMPORIUM
August 1, 2005
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