Firm58 Helps a Midsize Broker Dealer Improve CSA/Soft Dollar Management

A midsize broker dealer came to Firm58 for help improving its small, but growing CSA program. The CSA program required better management and suffered from several key challenges:

  • Poor client communication and visibility into credits, balances and payments through the client’s existing, spreadsheet-managed CSA program
  • Lack of online visibility into the CSA/Soft Dollar program
  • Serious questions about payment requests and calculated balances
  • Client complaints that vendors (from requested payments) were not being paid on time
  • Loss of potential business to other broker dealers that were better at managing their CSA programs

Firm58 significantly improved the client’s CSA/Soft Dollar management capabilities by equipping the client with:

  • An automated solution to calculate the daily commission credits of its clients
  • A professional portal front end that allows clients to log into and view their CSA program balances, download their trades, and submit payment requests
  • Increased visibility into client by client commission credits, balances and payments via the portal/solution

By implementing the Firm58 CSA/Soft Dollar Program broker dealer solution, the client achieved several important results: 

  • A professional interface that is much more effective than the existing spreadsheet-based management program
  • Greater visibility into the total CSA/Soft Dollar Program health and payment history
  • Ability to meet the demands of clients for a sophisticated and easy-to-use interface
  • More business and improved client loyalty
  • Significant time savings, allowing the redirection of resources to more value-creating activities