FundQuest responds to B-D ruling

FundQuest has launched a service to help firms convert their fee-based brokerage accounts into advisory accounts.

FundQuest has launched a service to help firms convert their fee-based brokerage accounts into advisory accounts.
The provider of investment account solutions has assembled a team of experts, specializing in investment due diligence, adviser training and compliance.
These experts will consult with firms to develop strategies and operational support to reduce the transition’s impact on investors, the company said in a statement.
Also, FundQuest said it has automated a number of its processes, streamlining conversion.
Advisers can generate disclosure requirements and investment policies online.
Clients and advisers can also use the ongoing portfolio monitor feature to track investments via the web.
Daily web reporting and quarterly performance reports allow investors to review their holdings.
“In the past, we’ve helped firms that anticipated the reversal of the Merrill rule convert to compliant advisory accounts,” said Brian Corkery, vice president of institutional sales, in a statement.
“We’re doing that in an effective manner with as little pain as possible for the investor.”