- Sycamore’s integration with the National Insurance Producer Registry (NIPR) provides faster and more transparent advisor license and carrier information
- The integration expands Sycamore’s Advisor Manager capabilities by streamlining back-office and compliance checks while adding alert capabilities
- Albany, NY-based Purshe Kaplan Sterling Investments (“PKS”) uses the NIPR integration to save time, reduce risk, and increase account opening efficiencies
September 29, 2021 – Hamburg, NY – Sycamore Company, an innovative provider of cloud-based financial technology solutions for front to back office broker-dealer and RIA operations, has added an integration with the not-for-profit National Insurance Producer Registry (NIPR) to reduce compliance and operational risk by streamlining producer onboarding, agent licensing, and carrier appointment data reviews, updates and alerts.
NIPR maintains a master data warehouse of producer licensing information from all 50 states, the District of Columbia, and four U.S. territories, and offers its clients secure data access via web services. Integration between NIPR and Sycamore’s Advisor Manager automates the request, retrieval and update process to eliminate manual effort and overlooked discrepancies. It also provides on-demand and real-time updates on individual producer information, which is especially helpful when onboarding new agents. Review and alert tools ensure compliance and licensing teams can easily and efficiently review updates and quickly take the appropriate action.
Mike Overdorf, president of Sycamore Company, said: “Keeping insurance producers’ state licensing and carrier appointment data up to date is a necessary but often time-consuming and inefficient process. Our integration with NIPR enables a firm’s entire population of insurance producers’ licensing data to be kept current as of the previous day’s close of business. It not only streamlines the process of bringing data into the system to satisfy compliance and back-office requirements, but also offers teams complete transparency on updates that can affect multiple activities and compliance issues across the firm.”
Modesto A. Lugo, Director of Licensing and Contracting at Purshe Kaplan Sterling Investments (“PKS”), said: “Since we began using Sycamore, our ability to utilize data, increase efficiency, and onboard new clients and advisors has improved dramatically. The NIPR integration is one more way Sycamore is transforming how we do business, control risk, and support our advisors with tools and processes that allow them to spend more time acquiring and strengthening client relationships.”
Sycamore’s automated advisor management tools drive data transparency and paperless office environments while keeping advisors efficient and satisfied. It provides the functionality home office users need to recruit and manage advisors, and keep agents and advisors fully connected to the home office through efficient operational workflows.
About Sycamore Company
Sycamore Company is a cloud-based, data-driven financial services software company that helps independent broker-dealers, hybrid broker-dealers and RIA firms increase the efficiency of their operations workflows, reduce compliance and regulatory risk, improve client onboarding experiences, and streamline actionable items. Built on the Salesforce platform and used by operations, compliance and supervising principals, executives, branch managers and advisors, Sycamore combines normalized data with on-demand, configurable workflows to revolutionize processes such as advisor compensation, recruiting and supervision, compliance, surveillance and CRM, as well as data analytics and business intelligence. For more information, visit https://sycamorecompany.com.
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