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Sign of the Times - Passing Documents to Broker-Dealerís Home Office for Processing.

January 2011

Cabinet NG (CNG), provider of document management and workflow management software, today announced it has created a unique interface that gives SagePoint Financial’s independent advisors the ability to electronically pass documents to their broker-dealer’s home office for processing. Documents may include variable annuity approval requests, client signature pages, account transfer forms for brokerage accounts (ACAT), along with the actual account application and forms needed to establish and continue servicing a client account. While this particular interface is specific to SagePoint Financial advisors, CNG’s document management software is used to help streamline office procedures and simplify paperless compliance for financial advisors across the industry.

Financial advisors can use CNG-SAFE (CNG’s document management and workflow product) to handle day-to-day basic scanning and document retrieval, and CNG Synchronizer to connect with a firm’s database to populate client folder information. The new interface allows users to become more efficient in the office and cut costs associated with reproducing and mailing and/or faxing documents. By simply scanning in the documents, they are immediately routed and automatically uploaded into the home office’s system for processing. CNG-SAFE comes with secure access rights, workflow, document retention and built-in audit capabilities, helping to meet compliance mandates.

The new interface for financial advisors works with both CNG-SAFE and CNG-ONLINE. CNG-ONLINE includes all the features and functionality of the CNG-SAFE software. The difference is CNG-ONLINE takes advantage of CNG’s SaaS subscription model which eliminates the need to purchase CNG-SAFE software and server hardware. CNG-ONLINE is accessed via a secure connection, allowing CNG-SAFE to provide third-party access capabilities, simplifying the compliance process.

“With CNG-SAFE or CNG-ONLINE, financial advisors can have their own document management system, set it up the way they want and leverage its capabilities to comply with the regulatory requirements,” said Andrew Bailey, president, CNG. “The new interface helps reduce overhead costs and increases efficiency by automatically sending required documents to the home office in a single step as they are added into CNG-SAFE. The goal of working with SagePoint Financial was to arm advisors with a document management tool that worked for the advisor and met the needs of the home office.”

One firm using the new interface is Koler Financial Group (Parma Heights, OH), a retirement specialist that provides a complete package of financial services including investments, insurance and income tax preparation to over 4,000 customers.

With almost 40 years in business, the firm’s 36 filing cabinets housing client information were exploding with paper files. Aside from a storage issue, the manpower needed to file thousands of client statements each quarter (over 16 hours a week) had become oppressive. By the time filing was completed, the next quarter would be days away – a never ending process. The firm needed a solution that would be more effective, efficient and streamline its workflow. Alex Koler, president, spearheaded the firm’s paperless venture from a technology standpoint, helping reach the firm’s paperless goals through his vision and forward thinking.

“Our industry has become very compliance conscious over the past several years so it’s important to have a system in place that makes the management of documents more convenient and efficient,” said Dave Stollings, financial advisor and technology team member at Koler Financial Group. “The day-to-day operations of our business have become so involved with spending more time on these compliance issues, when the time devoted should be geared first and foremost to client education and assistance. Now we can deliver better service to the client because CNG’s open architecture allowed us to integrate their products to the fullest extent, complementing our business and helping us meet compliance requirements in a timely manner.”

Additionally, Koler Financial Group has given itself a unique edge in the industry by no longer receiving paper statements from their investment companies. Working with their CNG reseller, Roger Veach of Advantage Data Systems, they developed a specially designed program that allows their advisors to download client statements directly from the data providers and automatically files them into the appropriate client folder in CNG-SAFE.

In addition to basic filing, storage and retrieval, CNG-SAFE provides enhanced functionality with Koler Financial Group’s contact management system, which was developed using Microsoft Access. CNG-SAFE also works with their tax preparation software, ProSystem fx Tax, which allows users to save their tax return copies directly to CNG-SAFE without the need for retaining paper copies.

About Cabinet NG:
Cabinet NG’s (CNG) document management software moves manual paper-based processes into efficient electronic workflows. As a result, businesses can increase productivity, reduce paper, save money and meet compliance requirements. CNG’s intuitive, secure and affordable filing approach provides a way to achieve a paperless office that scales with business growth. Patent pending integration technology ensures smooth workflow and seamless connection to many existing Windows-based business applications. CNG software supports interdepartmental collaboration allowing users across the company to accomplish tasks more efficiently with centrally managed and instantly accessible documents. CNG also provides industry specific configurations to help industry verticals more quickly attain a paperless environment. For more information, visit

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