Data aggregation
Quadron® aggregates all away-held assets including annuities, RIAs and directly-held mutual funds. Additionally Fetter Logic cleanses and normalizes the mutual fund data to provide the most accurate data possible. Through its strategic broker/dealer partner, Fetter Logic identifies direct-held mutual fund business under one or more correspondent clearing numbers, collects data on these holdings, corrects erroneous representative information on these positions, and displays that data through a set of proprietary tools. It also allows Fetter Logic to obtain data from one or more clearing firms or third-party data sources, display the data through representatives and back office tools, and aggregate the various data sources (direct, clearing firm, third-party) into one consolidated view. At a correspondent’s discretion our broker/dealer partner will also collect commissions and 12b-1 fees from CommSERV, reconcile reported and paid amounts, and pay a consolidated amount to the correspondent with a reconciliation statement.
Here’s how Quadron cleanses and normalizes directly-held mutual fund data:
- We receive information about fund positions with the requested B/D number(s) attached.
- Using a proprietary tool, we correct erroneous broker numbers on these positions and transmit those corrections back to the Funds to permanently correct the data.
- All correct mutual fund direct positions will be reported in Quadron
and, when eligible, be combined for display, reporting, and compliance
testing purposes with clearing firm and third-party positions. This involves
multiple pieces of functionality:
- Broker Dashboard that contains summary information for the broker on numbers of direct mutual fund accounts and direct mutual fund assets under management. Ability to display consolidated account positions by TIN, account type, or user-selected criteria.
- Reporting functionality showing a trade blotter, yesterday’s activity, total assets by fund family, and top fund holdings
- Back-office Mutual Fund Compliance Functions
- Exception Reporting performs 12 tests
- Rule 17a-3 Reporting produces 4 types of rule 17a-3 letter
- Trade, Revenue and Position Reporting on the firm and representative levels
- The Quadron On Demand ad hoc reporting tool allows users to query up to 6-months of trade activity, non-trade activity, customer information, security master information, customer positions, and customer balances. Back office users will have report design capability including the use of various filters, summary, and sorting options. Brokers will have the ability to run reports created by back office designers.
- Using our partner’s CommSERV interface to the NSCC we will receive commission payment information and money settlement for the requested B/D number(s).