Do More than Store

Day, Jo; Day, Kevin
September 2003
Journal of Financial Planning;Sep2003, Vol. 16 Issue 9, p34
Academic Journal
This article presents insights into how innovative firms, with an altogether different agenda for implementing electronic data management than most financial planning firms, are using their systems to do more than store. Apparently, automating a time-consuming and tedious task is a big win for busy firms. Like many planning firms, generating quarterly reports was always a labor-intensive process for Wingate Financial Group in Lexington, Massachusetts. To effectively tailor the information delivered to clients, Wingate combines data from dhCAMS and an Access database to produce 500 consolidated reports for about 2,000 accounts. Sheila Bienemann and Anita O'Brien, the firm's information technology director and director of operations respectively, were determined to streamline this operation by electronically collating and automatically filing their quarterly reports. Wingate now has a streamlined process that enables them to create, review, file and send quarterlies quickly. The first step is to run a batch report from dhCAMS and the Access database. Then he runs a process to electronically collate the reports. Upon final approval, reports are batch printed and sent to the client along with a quarterly letter.


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