Life for clients of bank and credit union investment programs run by CUSO Financial Services and Sorrento Pacific Financial has just become a little easier.
The two sister broker dealers on Tuesday released a new mobile app that allows retail investment clients to capture document images via their iOS or Android device and send them securely to their financial advisors for inclusion in their portfolio documentation.
The new "SendMyDocs" app was designed to help clients who live far from their bank or credit union as well as the advisors trying to serve them, the broker-dealers said in their joint announcement.
The latest app is the second mobile document imaging application the broker-dealers released in the past year. The first enabled advisors to transmit documentation immediately while meeting with clients.
"The new SendMyDocs app directly supports our customers' mobile strategies," Mitzi McMillin, senior vice president for business systems at CUSO and Sorrento, said in a statement. "We see the benefits to efficiency that technology creates and we will continue to add advancements that can increase convenience and ease for both clients and advisors."
According to the announcement, the app securely captures the images clients snap of their documents and uploads them automatically to dataVision, the account management system advisors use to streamline administration, communications, sales and reporting functions. It also alerts advisors of the new documents.
"I have a client who lives almost two hours away in New York, and they were able to use SendMyDocs to send me a completed letter of intent the same day I sent them the form," Christopher Urso, an advisor with CUSO, said in the announcement. "This is a game changer for those of us in the field who have clients out of the area."
The app meets regulatory compliance requirements and can be installed on multiple devices by an individual user. Both CUSO and Sorrento are offering training on the application via online modules. Advisors can also set up clients to use it, the companies said.