Santa Monica, Calif. – National Planning Holdings Inc. has added a library of direct sponsor forms and applications to its Web-based representative workstation system, Electronic Order Entry (EOE). NPH is a broker-dealer holding company and an affiliate of Lansing, Mich.-based Jackson National Life Insurance Co.With thousands of providers and products represented on EOE, the new direct sponsor functionality is the latest step in NPH's effort to provide technology solutions that help representatives improve the efficiency of their practices.
NPH is among the first independent broker-dealers to integrate direct sponsor paperwork with a paperless workflow and order entry system. Furthermore, the advanced technology capabilities of EOE enable the system to continually look for updates and automatically replace outdated forms with current, approved versions.
"Our primary goal is to make it easier for reps to do business with us so they can provide better service to their clients," says NPH President Shawn Dreffein. "Before EOE, reps had no choice but to store thousands of paper forms and applications from all of the providers they do business with, and continually update them with the most recent versions. Failure to do so could mean rejection of their business or delay of their commissions, and could also result in compliance issues. NPH has simplified the process by adding direct sponsor paperwork to EOE, and we will continue to enhance our offerings to provide the best tools in the industry to our reps."
In the streamlined operating environment of EOE, the need for representatives to store and update paper forms is completely eliminated. With the initial launch of EOE in November, 2003, NPH integrated virtually all broker-dealer paperwork into the system. The recent implementation of eSignature in June, 2005 transformed the time-consuming process of obtaining client signatures and routing them for approval into a fast, fully automated process.
The addition of direct sponsor forms to the system brings NPH one step closer to its ultimate goal--the development of a truly paperless operating environment for representatives.
In addition to saving time and boosting productivity, EOE is also designed to provide an efficient means of managing regulatory requirements
"In today's regulatory environment, representatives can't afford to be complacent about compliance, but the immense volume of compliance paperwork can severely limit their ability to be productive," says Dreffein. "We provide the tools reps need to effectively manage compliance requirements in a time- and cost-effective manner. Technology is one of the main reasons representatives choose to work with NPH, and by continually improving our capabilities, we will continue to grow and maintain our competitive advantage."
Source: National Planning Holdings Inc.
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