Independent Broker-Dealers
For the home offices of mid-size to large independent broker-dealers and hybrid RIAs.
Our IBD practice works for mid-size to large independent broker-dealers and hybrid RIAs. We calculate commissions, run supervisory tooling and manage the technology your advisors use, from the commission run to the branch exam.
Your representatives are independent contractors working from home offices and strip-mall storefronts across the country. Nobody at the home office can look over their shoulders, so supervision has to be done through systems. Most of what we do is aimed at making those systems dependable, keeping the network secure and getting payouts right.
Reg BI, SEC Rule 17a-4 and NIST controls set up at deployment
Advisors expect a "Business-in-a-Box" technology stack when they join, and FINRA and the SEC expect you to supervise every trade, email and text message they send. We plan for both at the start of a project. SEC Rule 17a-4 retention, Regulation Best Interest (Reg BI) workflows and NIST cybersecurity standards are configured as part of the build, whether the job is securing a remote advisor’s laptop or automating review of a 1035 exchange.
Our own software for payouts, supervision and Reg BI disclosures
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Commissions & Payout Engine: calculates the payout grids, splits, overrides and haircuts specific to IBDs, to reduce reliance on Excel in the monthly commission run.
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Supervisory Control Portal: one home office dashboard for risk signals from trade blotters, email archives and outside business activity (OBA) disclosures. Compliance staff use it to run risk-based branch exams without visiting each branch.
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Disclosure Management App: delivers Form CRS and other required disclosures and records client acknowledgment before a trade is placed, leaving an audit trail for Reg BI.
Advisor platforms we deploy and manage
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Microsoft 365 workspace: configured with Information Barriers so advisors can collaborate with their staff within privacy rules and data retention policies.
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Unified Communications Surveillance: Zoom, Teams and texting platforms connected to archives such as Smarsh or Global Relay, so messages are captured and indexed for eDiscovery on any device.
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Wealth Data Aggregation: Snowflake or Databricks combining data from clearing firms (Pershing, Fidelity, NFS) and direct business application providers into a whole-book view of assets, which supports recruiting and retention analysis.
Recruiting and advisor transitions
Growth at an IBD comes mostly from recruiting, so we work with transition teams on repapering.
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Automated Account Opening: robotic process automation (RPA) and API integrations pre-fill account applications to cut down NIGO (not in good order) submissions.
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"Day One" Tech Readiness: email, CRM and planning software are provisioned and secured before the advisor’s first day.
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Transition Data Security: client data from the advisor’s prior firm is taken in securely and handled in line with the Protocol for Broker Recruiting.
Home office supervision workflows
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OBA Tracking: digital approval and annual recertification of outside business activities, to surface selling-away risk.
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Trade Surveillance Automation: rules that flag possible churning, breakpoint abuse and suitability mismatches, so supervisors can focus on high-risk exceptions.
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Advertising Review Workflow: advisors submit social media posts or seminar decks for approval, with each step from submission to sign-off recorded.
Endpoint security, remote desktops and client portals for advisors
Advisors tend to stay where it is easiest to do business, so we extend home office capabilities to the field:
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Managed firewall and endpoint protection for independent contractors’ own offices, covering the security gap between headquarters and the field.
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Virtual desktops (VDI) so advisor support staff can process paperwork from home.
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Branded client portals for exchanging tax and estate documents instead of email attachments.
Archive checks, a commission-aware service desk and app vetting
Advisors who conduct business on unapproved apps such as WhatsApp or personal Gmail are a standing supervision problem for IBDs. Our Managed Governance service is set up to support your Chief Compliance Officer on it:
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Continuous Surveillance Monitoring: automated checks that archiving feeds are active and that no advisor has disabled their security agent.
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Commission-aware service desk: our Global Resilience Command takes IBD support requests, and a commission statement error is handled as a matter of advisor trust, not a routine ticket.
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Vendor Due Diligence: we evaluate the security of third-party planning and risk apps your advisors ask for before you approve them.
The tools above keep records your compliance team can show examiners, such as disclosure acknowledgments and advertising approvals. For your own vendor review of Moraph, our SOC 2 Type II report and ISO/IEC 27001 certificate are available under NDA from the evidence section of our Trust Center.
Solutions
Explore our Financial Services solutions
20 Moraph-built products and 20 managed platforms, each delivered inside our compliance envelope.