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Taking Care of a Traumatized Broker/Dealer

One of the worst things we see in the financial services industry is failed technology implementations and deployments. Many Broker/Dealers on a quest to deliver better service to their advisors – while at the same time endeavoring to reduce their processing costs – have been left traumatized by the fintech providers they entrusted with their firm’s modernization.


We’re talking, of course, about the type of back-office support technology that automates and streamlines much of your operation – especially when it pertains to documents and paperwork. This is a crucial issue for Broker/Dealers. Paperwork must be accurate but you can’t afford to have it become a time-sucking administrative nightmare at the cost of valuable production.

So, you can’t help but listen when heavily promoted companies come along and offer digital platforms that are supposed to solve all these problems for you. These companies couldn’t have grown as rapidly as they have without delivering on their promises, you figure. They appear to have the technology. They also appear to have the people with the required expertise. How can their product not solve your problems?

But before long, you learn the unpleasant answer to that question: It can’t solve your problems if they can’t implement it. And far too often, that’s the case. We hear lots of discouraging stories about Broker/Dealers that were promised a quick implementation only to find themselves bogged down in a protracted one that hasn’t gone as advertised. To add insult to injury, they are saddled with paying additional fees for the lengthy implementation. Is it because the technology they purchased is flawed? Is it because the solution provider doesn’t know how to work with your team and help them resolve pain points?

Now you’re left with a significant financial investment in technology that’s delivering no value because your organization isn’t empowered to use it. Or if you were fortunate enough to survive the implementation phase relatively intact, you are now faced with deploying technology to your advisors that has thus far underwhelmed your back office.

The decision to go with the heavily promoted name is understandable. You expect results from established companies. But what you learned from this experience is that you should be leery about writing a big check to a technology solution provider that hasn’t proven their technology works.

And that’s why so many Broker/Dealers are turning to Forms Logic. Rick Burgess, CEO and Founder, and his team complete implementations of the Navigator business processing platform in a matter of weeks. The longest implementation the company has ever had, under very challenging circumstances, was three months – and that customer, like all Forms Logic customers, wasn’t asked to pay a dime until the system was operational.

Yes, you read that correctly. . . you won’t be asked to pay for the implementation or licensing fees until the Navigator platform is operational.

Moreover, Forms Logic sees implementations as a means to an end, not a profit center like other firms, so its fees are very reasonable and affordable.

Forms Logic knows how to support teams through the on-boarding process, and its team works tirelessly to make sure you are getting the full value out of Navigator. The team members know how to configure the Navigator platform to fulfill each client’s business needs. They do considerable work at the front end and they understand how to approach things. Plus, they stay involved as you’re ramping up to make sure you’ve got things rolling as they should.

Better known companies aren’t always the better choice. The best solution is a robust technology that you can actually use, and one that won’t waste months of your time in the implementation phasewith huge cost overruns.

Broker/Dealers don’t need to suffer under this kind of stress only to end up thoroughly disappointed because they placed their trust in the wrong technology solution provider.

That will never happen with Forms Logic. This is what they do.

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