By Jacob Rouser

If you’re a user of Albridge’s Sales Performance Management (SPM) tool, then you should already be aware that the offering is being sunset by the end of the year. With only a handful of offerings available in market, this has firms unsure of what the next best step is for them as they look for a solution to fit their need.

As we’ve discussed with a few former SPM clients, there are a handful of areas that should be considered.

Your Historical Data

Albridge is not making all historical data available. They are, however, providing historical trade blotters, alerts, and cases. If you’re evaluating a solution provider that is making the claim that they can provide historical data, it is important to dig in a bit further to understand what data they are able to surface.

Trade Exception Management

Firms must keep up with ever-evolving regulations and the interpretations of those regulations. Most firms need a configurable solution that can identify, flag, and route these exceptions to the appropriate queues.

From there, these exceptions need to be routed to the appropriate compliance staff based on the exception criteria. The compliance team then needs to be able to review the trade activity and understand what the exception was. The best tools in market can facilitate feedback and input from advisors or other staff directly within the exception to keep documentation and create more efficient workflows from compliance staff to advisors.

Integrated Trade Surveillance and Product Switching

Many firms with direct mutual funds and annuity businesses need the ability to associate the suitability on the shell account at the clearing firm with the direct mutual fund account.

Additionally, monitoring product switches have historically been highly manual. When considering solution providers, you should look for automation to support this process.

Firms who’ve had to respond to regulatory inquires understand the challenge of doc management with notes residing in multiple places with varying degrees of security. Firms should assess what their current document storage and note process looks like and evaluate if that is part of their needs.

Benefits of Skience Trade Surveillance

It should come as no surprise that we believe that Skience is the best solution for those who need to move from Albridge. To help provide a smooth transition, we’re honoring all Albridge SPM clients’ pricing. With trained technical experts on the SPM offering, we’re able to commit to having you implemented and converted before Q4, 2021.

If you’d like to learn more about our Trade Surveillance offering, you can watch an un-gated product overview here: https://skience.com/skience-platform/trade-surveillance/demo/

If you’re ready to take the next steps, get in touch!