FOR IMMEDIATE RELEASE

Sister Companies Sorrento Pacific Financial and CUSO Financial Services Launch FireLight E-Application to Simplify Order Entry Transactions

Electronic Application tool continues firms’ remote delivery strategy enabling bank and credit union advisors to do business with clients anytime, anywhere

SAN DIEGO – May 24 2016 – Sister broker-dealers, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), have launched the FireLight® E-Application solution, an online order entry system from Insurance Technologies, LLC, that automates the way insurance and investment product applications are completed and submitted. FireLight enables advisors to capture client data and signatures in a single meeting, on any device. CFS and SPF remain focused on implementing remote delivery tools that expedite and simplify processes for their financial institution advisors, and thus, for their customers.

CFS and SPF’s stage one FireLight e-Application solution currently supports four carriers of variable annuities: Lincoln, Prudential, Voya, and Sammons/Midland. The firms plan to expand carriers throughout 2016 and to offer e-applications for indexed and fixed annuities and other products in the future.

By leveraging existing insurance carrier forms, FireLight supports the established process of completing variable annuity business, but increases efficiencies by moving it entirely online. Integrated into dataVISION, the broker-dealers’ proprietary web-based account management system, the e-application automatically incorporates existing client information, transaction documentation and product-specific data as advisors fill out clients’ order forms. FireLight also serves as an effective compliance check, eliminating not-in-good-order applications that otherwise slow down business processing. FireLight eliminates the need for shipping applications to and from the client and the carrier, saving both time and money.

“FireLight’s easy-to-use interface and e-signature capabilities streamline the sales process and support our strategy of enabling advisors at our financial institutions to serve their clients efficiently, whether they are meeting in person or are far apart,” said Mitzi McMillin, senior vice president of business systems for CFS and SPF. “Our advisors can now rest assured that their variable annuity applications are in-good-order, compliant and available whenever and wherever they are working.”

Integrated business rules automatically choose the correct application forms based on state and product. This eases the data collection process while meeting in-good-order, compliance and suitability requirements associated with the sale. Advisors complete the application form, and can capture client e-signatures in person, through secure email, or via on-screen tablet capture options. The authorized order is then submitted to the carrier for processing. Dates and time stamps are automatically added to electronic communications, application changes, signature captures and submission information, so that records associated with the sale are organized and accessible. The e-application, once completed and approved by an OSJ, takes approximately one hour to be seen in the carrier’s system, much faster than if an advisor had to fax or mail an application. It significantly speeds up the process of setting up an account, funding an account, and paying commissions.

“FireLight makes annuity applications more accurate, easier for the client, and much, much quicker,” said Caroline Georgiadis, registered financial assistant at Allegacy Investment Group. “With all of the training resources CFS and SPF provided, it was easy to learn, and it has saved me easily 30 minutes to an hour per application. We love how much faster our business gets processed and the fact that it prevents Not-In-Good-Order issues. FireLight is my backup. Our clients like it too. Electronically initialing is much less intimidating than paper signing, and it allows us to be flexible to their schedules which is great. E-applications like FireLight are definitely the way forward.”

About CUSO Financial Services, LP and Sorrento Pacific Financial LLC
Full-service, sister broker dealers CUSO Financial Services, L.P. and Sorrento Pacific Financial LLC (Members FINRA/SIPC) provide customized investment and insurance solutions to financial institutions throughout the country. Headquartered in San Diego, with branch offices and licensed representatives nationwide, both broker dealers are SEC Registered Investment Advisers, with expertise in key areas including retirement services, wealth management, and fee-based and insurance products for both individuals and business customers. For more information, see www.cusonet.com or www.sorrentopacific.com or visit their LinkedIn pages: CFS and SPF.

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Media Contact:
Beth Walsh
beth@clearpointagency.com  
760-230-2424