IFMG Securities provides financial institutions with investment and insurance products, as well as programs that support customer acquisition and retention.
ADP’s mutual fund processing technology was a key factor in the selection process. The company says that it provides a consolidated stock record view of all mutual funds, resulting in improved compliance and surveillance capabilities.
It gives IFMG the ability to convert Network Level 0 mutual funds to Level 4, which provides detailed real-time account information; and offers better integration at point-of-sale with ADP’s Mutual Fund Order Routing System (MFRS).
Other benefits include real-time integration with IFMG’s front end automated account opening and approval system, as well as compliance reporting, which tracks investment suitability, share class threshold, and break point monitoring and churning of mutual funds.
