Docupace Technologies has launched its new ePACS AI Solution software, which is designed to streamline the entire alternative investment process while addressing compliance standards.
The ePACS© AI Solution will, automatically generate a tailored list of clients within an advisor’s book of business who are eligible for the public, non-traded alternative investment vehicles available on his or her broker dealer’s platform.
In addition it will ensure that investment recommendations comply with product eligibility and concentration regulations, and reduce paperwork redundancies by incorporating electronic signature functionality.
ePACS AI Solution simplifies the investment process to ensure transactions are processed in a documentable, efficient and in good order SEC 17a3 and 4 compliant manner.
With this software, investor proceeds are received by issuers for investment more quickly, distributions can be earned sooner, commissions can be paid to selling group members in a more timely fashion, and broker dealers are provided a solution to maintain a consistent approach to managing state suitability guidelines.
“For several years, state regulators have focused individual and coordinated actions to address systematic failure on the part of broker dealers to consistently and accurately apply intricate state suitability standards,” says Louisa Quarto, President of Realty Capital Securities, LLC. “In just the past few months, millions of dollars in fines, settlements and restitution have been paid out for failure to adhere to these protocols. Many of these violations happen accidentally as the complex rules surrounding product eligibility and concentration change frequently, leaving even the best-intentioned advisors and broker dealers vulnerable. The ePACS© AI Solution directly answers this industry challenge – ensuring a higher standard of protection and safety at all levels of business, and empowering financial services professionals with a solution to address the increasing demand among retail investors for yield-oriented solutions.”
"The ePACS AI Solution sets a new standard for the financial services industry,” says Docupace CEO and Founder Michael Pinsker (pictured). “Until now, no single solution was available to facilitate the extensive federal and state regulatory requirements related to these types of investments. The ePACS© AI Solution’s ability to bring transparency to such transactions mitigates many of the potential rules-based compliance issues associated with public, non-traded alternative investments. We believe that with the ePACS© AI Solution, the customer wins, the advisor wins, the regulators win—the industry wins.”
“The complexities surrounding an investment in public, non-traded alternative investments can lead to lawsuits, high fines or even loss of business. By processing these types of transactions through a secure, paperless, digital platform, these complexities are almost naturally mitigated,” adds Tom Embrogno, Chief Growth Officer for Docupace. “Our secure, cloud-based approach will not limit the ability of customers to opt-out of the paperless process, nor will it inhibit their ability to continue with paper transactions.”
Pinsker says: “We consider this to be an incredible milestone for the industry, and one that we expect will affect millions of investors. We have developed a solution that achieves rules-based compliance on a number of levels and eliminates many common points of processing failure. The ePACS© AI Solution will give investors, advisors and their broker dealers the peace of mind that their investment transactions are secure and handled in compliance with rules-based limits, whether they live in Colorado or New York. This dramatic industry innovation was made possible due to Docupace’s many years of related experience and the ability to scale our proven ePACS© Productivity Suite to different regulatory standards. The invaluable collaborative development and testing efforts from the teams at Realty Capital Securities and SC Advisory Services have helped us to bring a meaningful solution designed specifically for this industry.”
