Integrated Financial Resources, Inc.

Elizabeth Ross, better known as Liz, is an Asset Management Specialist supporting three financial advisors with Integrated Financial Resources, a Registered Investment Advisory firm in Toledo, Ohio. Integrated Financial Resources is affiliated with Concorde Investment Services, LLC, a broker-dealer with one hundred and twenty-four financial professionals registered nationwide. As an Asset Management Specialist, Liz is responsible for implementing new business with Concorde Investment Services. Currently, Integrated Financial Resources manages about $50 million in assets under management.

 


THE NEED

“When we first started working with Concorde we had to fax them over all of our new business. This wasn’t unique to Concorde, this was also how our previous broker-dealer accepted new business too,” explained Liz.

“Once it was faxed over we had zero visibility into the process. I never knew if the fax went through, if all the pages made it, if we had missed something, or if it was even being worked on. I would only know for sure after I received an email from Concorde sometimes up to two days later,” stated Liz.

“If anything was found wrong with the work order, like a field not filled out, we would have to go back and forth with phone calls and faxes to get it fixed, which was really time-consuming,” said Liz.

 


THE OPPORTUNITY

In 2013, Integrated Financial Resources was asked to participate in a Docupace pilot group. Concorde wanted to learn how best to utilize Docupace alongside several firms before introducing the new technology nationwide.

“I will admit, at first it was a bit confusing because that’s how it is when you are learning a new process,” explained Liz. “Especially when everyone is set in their old ways. This industry tends to be stuck in the 18th century.” Committed to not turning back, Concorde and the pilot group successfully implemented Docupace within a few short months.

Concorde continues to support the field by offering a variety of services including a monthly users’ call. “Concorde does a great job supporting us with this technology. Our monthly Docupace meetings are very helpful,” said Liz.

 


THE SOLUTION

Since implementing Docupace Liz is able to easily track any work item that needs principal approval. Gone are the days of worrying if new business is approved and being processed.

“With Docupace I’m able to easily convert a document to a digital file, create a work item, index it and submit it for review,” explained Liz. “I can track the entire process and have visibility even after we’ve handed it over to Concorde.”

 

“We didn’t realize what an effective communication tool Docupace would be for us and Concorde. If there is anything missing on a form, Concorde is able to get back to us quickly instead of having the process drawn out.”

– Elizabeth Ross

 


 

Benefits for Liz:

  • New business submitted to Concorde is processed same day
  • Increased visibility into the entire process
  • Errors are resolved quickly without time-consuming delays
  • Easier communication with Broker-Dealer

 

Benefits for Concorde:

  • Paperwork with sensitive customer PII is securely transmitted and stored
  • Processing is more efficient, saving hours and ensuring items are routed correctly
  • Back-office staff are able to communicate more efficiently with field staff members

 

Benefits for Clients:

  • Accounts are set up using a highly secure, efficient process
  • Processing questions can be answered quickly