Finance

Trustie streamlines license verification for financial institutions, ensuring regulatory compliance and client trust, while enhancing risk management and transparency

License Verification
at Prosperity Financial Services

About

Prosperity Financial Services is a leading financial services firm that relies heavily on its team of financial advisors to provide clients with expert investment advice. The firm is required by regulatory bodies to ensure all its financial advisors hold valid Series 7 and Series 63 licenses. Recently, Prosperity Financial Services hires a new financial advisor, John. John claims to have both the required licenses. 
To verify this, Prosperity Financial Services decides to use Trustie.

Trustie solution

Solution

The HR team at Prosperity Financial Services sends a verification request for John’s Series 7 license via Trustie to the Financial Industry Regulatory Authority (FINRA). FINRA, having partnered with Trustie, confirms the validity of John’s Series 7 license.

Similarly, a verification request is sent for John’s Series 63 license. Again, FINRA confirms the validity of this license.

With both licenses confirmed as valid, Prosperity Financial Services can confidently proceed with John’s onboarding process.

A few months later, Trustie notifies Prosperity Financial Services that John’s Series 63 license is about to expire. This allows the firm to ensure John renews his license, maintaining their regulatory compliance and the integrity of their financial advisory team.

Trustie thus plays a crucial role at Prosperity Financial Services, providing a reliable and efficient platform for the verification of professional licenses, ensuring compliance and contributing to the overall trustworthiness of the firm’s services.