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Spire Investment Tackles Compliance

Spire Investment Partners, a broker/dealer and registered investment adviser, has completed the first of three phases of deploying various Quadron Data Solutions tools.

Spire has rolled out a compliance supervision tool (ComplianceQ), an analytics and reporting application (ReportQ) and a compensation management system (EarningsQ).

"While searching for vendors to fulfill our data management needs, we quickly came to the conclusion that Quadron was the only technology vendor to offer this breadth of data and application services all under one roof," says Spire's CEO, David Blisk. "Their in-depth industry knowledge and experience servicing independent broker/dealers was invaluable to our successful deployment."

These applications are being deployed using Quadron's DataPro, an aggregated, unified data warehouse that supports all of Spire's custodians, including Fidelity (brokerage and advisory), Pershing (brokerage and advisory), Schwab, and NSCC directly held mutual fund data.

Spire Investment Partners has incorporated Quadron's enterprise database and its related applications into the company's core processes so they can integrate clearing firm data from multiple feeds into one aggregated data source, facilitating a more streamlined process for data management; minimizing the chances of manual errors; driving business efficiency and enhancing compliance supervision through improved monitoring of all business investments, according to a company release.

Quadron Data Solutions' CEO David Fetter notes, "Managing the diversity of functional requirements, investment products and data sources can be overwhelming for even the largest broker-dealers. We're excited to be able to offer firms like Spire a high quality, cost-effective solution."

Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio

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