Putting Technology In Its Place

July 18, 2017

Mark O'Keefe

Bainco News

At the recent Pershing INSITE conference in San Diego, Alexis Ohanian (co-founder of Reddit) noted how people take for granted the world class technology behind the simple act of posting a picture of their kale salad on Instagram, while the investment community is often hindered by utilizing technology that is 10-years old. Mixed priorities, some would argue.

The reality is that new technologies do continue to permeate the investment community but can be challenging to embrace given the enormous financial and time commitment needed to implement properly.  At Bainco, we remain hesitant to jump at the “latest and greatest” simply because of its allure and popularity. We do, however, take great care in assessing our technology and becoming familiar with new systems that will enhance our operations and client support, while at the same time add efficiencies to our processes.

Over the past two years, we spent a great deal of time assessing, testing and comparing new and different technologies designed to improve reporting, increase controls and efficiencies, and develop better client-facing and client-supporting systems. We implemented a new portfolio accounting platform along with a robust trade order management system allowing us to utilize state-of-the-art systems for tracking client portfolios, efficiently rebalance accounts, and route trades directly to brokers.

Our Wealth Strategies group recently added a new platform to their suite which fully integrates with our clients’ custodial accounts at various financial institutions.  This holistic view of a client’s wealth allows us to build planning scenarios which reflect the most complete, up-to-date data which is used to stress test a myriad of assumptions in order to make specific recommendations for complicated client situations. In addition, we have been beta testing a secure client portal and vault technology designed to streamline and organize our clients’ most important documents.

Bainco clients have direct 24/7 access to their Pershing custodial accounts through our re-designed website, www.bainco.com, which gives users a better look at who we are, what we do, and who we serve. Education is of utmost importance to Bainco and our new Perspectives page gives visitors access to several KnowlegeSHARE articles as well as quarterly market commentary. We invite you to take a look at our new site at your convenience.

As for Bainco’s internal systems, our information technology consultants have designed and built a remote server room. This allows us to run all systems in parallel using powerful and reliable servers and controllers, which are then backed up in multiple encrypted layers both on and offsite, locally, and in the cloud. We regard the security of our technology as our most critical business operation, both internal and client facing, and continue to monitor the health of our technology infrastructure daily.

Overall, we have come a long way in terms of technology and will continue to evolve with care and discretion.  We welcome open conversation around our systems and technology and invite you to contact us with any suggestions you may have.

Content Disclaimers

This commentary/ article has been published or selected for distribution by Bainco based on current events and/or topics of interest. It contains the current opinions of the authors as of the date of publication. All opinions are subject to change at any time. This material has been distributed for informational purposes only and is not meant to convey a current or past recommendation, investment advice of any kind, or a solicitation of an offer to buy or sell securities or investment services.

Material in this publication, including market forecasts and forward-looking statements, is original and/or derived from proprietary and non proprietary sources Bainco deems to be reliable; Bainco does not, however, warrant the completeness, accuracy or timelessness of the information obtained from these sources. The opinions and statements set forth do not consider the investment objectives or financial situation of any particular individual or group of individuals. Readers will need to consider their own circumstances before making an investment decision and are cautioned to consult their own tax and investment professionals with regard to their specific situations.

Past performance is not a guarantee of future results.