PORTLAND, Ore.--(BUSINESS WIRE)--Smarsh®, the leading provider of hosted archiving solutions for compliance and e-discovery, today announced that Essex National Securities, LLC (ENSI)*, an independent broker-dealer, has migrated to Smarsh for email and social media archiving.
ENSI provides tools and services for geographically dispersed banks and their advisors to grow successful investment services programs. Dissatisfied with the archiving solution it was offering to clients, the firm sought a new provider to streamline supervision and reduce costs. Smarsh was ultimately selected for its workflow efficiency, ability to support large and complex installations and reputation for customer service.
“We evaluated several other competing solutions, but it came down to the fact that Smarsh provides the technology and support to help me do my job better,” said John Cooney, chief compliance officer at ENSI. “With Smarsh, I spend less time on oversight and more time honing our broader compliance strategy.”
Smarsh helped ENSI improve supervision efficiencies by significantly reducing the number of electronic messages needed to review. The Smarsh Archiving Platform filters out irrelevant messages while providing deeper insight into potential infractions. ENSI can easily measure the compliance team’s progress and oversee its supervision efforts across geographically distributed branches. Smarsh also provides an added financial benefit, saving ENSI an estimated $80,000 per year on licensing fees alone.
“With more than 300 representatives at different bank branches, multiple email platforms and 27 different domains in place, email and social media compliance supervision was a large and complex task,” said Garth Howard, chief information officer at ENSI. “Smarsh helps reduce these complexities with a turnkey solution that makes our business more productive, ultimately allowing us to do the same thing for our customers.”
Smarsh also helped ENSI manage the technical complexities of migrating to a new archiving provider. The Smarsh support team freed up ENSI IT staff during the migration by working directly with ENSI’s individual bank clients to set up new users, answer questions and resolve system issues.
“Retention and supervision are important functions for any firm, large or small, but shouldn’t create unnecessary burden or take away from other business priorities,” said Stephen Marsh, CEO of Smarsh. “We’re proud to provide the tools and support to help make our clients’ jobs easier and their businesses more productive.”
For more information about ENSI’s experience with Smarsh and how it was able to save time and money, download the case study Essex National Securities Selects Smarsh for Smarter Archiving.
* Securities and investment advisory services are offered through Essex National Securities, LLC, member FINRA/SIPC, an independent broker/dealer and Registered Investment Advisor.
About Smarsh (www.smarsh.com)
Smarsh® delivers cloud-based archiving solutions for the information-driven enterprise. Its centralized platform provides a unified compliance and e-discovery workflow across the entire range of digital communications, including email, public and enterprise social media, websites, instant messaging and mobile messaging. Founded in 2001, Smarsh helps more than 20,000 organizations meet regulatory compliance, e-discovery and record retention requirements. The company is headquartered in Portland, Oregon, with offices in New York City, Atlanta, Boston, Los Angeles and London.
About Essex National Securities, LLC (www.ensinet.com)
Established in 1989, Essex National Securities, Inc., member FINRA/SIPC, is an independent broker-dealer, solely dedicated to providing financial institutions with the support, tools and services needed to grow a successful investment services program. ENSI has relationships with a broad range of partners, providing full access to a wide spectrum of financial products including fixed and variable annuities, discount brokerage, mutual funds, managed money programs, as well as all types of life insurance and long-term care. ENSI couples this with value-added services that include marketing and business planning, sales support, licensing and registration services, continuing education, professional development and training, as well as compliance and regulatory guidance. For more information, please visit www.ensinet.com.
