Sycamore Unveils Cutting-Edge Surveillance Platform Enabling Broker-Dealers to More Effectively Surveil Advisor Activity

Cloud-native platform makes it easier for compliance teams to aggregate relevant data, surface critical insights and increase accuracy and efficiency

BUFFALO, N.Y., Jan. 28, 2025 /PRNewswire/ -- Leading wealthtech firm The Sycamore Company ("Sycamore") today announced the release of a cutting-edge surveillance platform for broker-dealers that enables them to more effectively surveil, detect and monitor advisor activity within their organizations.

By rigorously monitoring and analyzing transaction and commission data across advisors and accounts, Sycamore's cost-effective, cloud-based surveillance platform makes it easier for compliance teams to aggregate relevant data, surface critical insights and increase accuracy and efficiency. The offering comes as many broker-dealers wrestle with ineffective legacy systems that struggle to keep up with increasingly massive datasets and evolving regulations.  

"From severe fines to reputational damage, there are serious consequences for broker-dealers that fail to establish and maintain effective surveillance systems," said Mike Overdorf, President and Founder of Sycamore. "It has never been more critical for broker-dealers to deploy a highly- capable system that can mitigate those risks."

Data and Business Intelligence
With Sycamore's surveillance platform, compliance teams can aggregate and normalize their data all in one place, mine that data for anomalous records or patterns and generate reports for the firm's management team, business units and regulators as needed. The platform can collect and normalize millions of records into a consistent format across data sources in a highly configurable and efficient way.

Configurable Alerts
Once the data is normalized, the platform makes it accessible through flexible and configurable (rather than hardcoded) alerts, dashboards and business intelligence. Analytics provided through a stable and secure cloud-based engine enable compliance teams to examine millions of data points across all data sources and run a multitude of filters to further mine that data.

Compensation- and Transaction-Based Surveillance
Sycamore's surveillance platform comes with 30 pre-configured surveillance rules, with more on the way. Additional features include robust data acquisition and normalization capabilities; advanced workflow and automation processes that lead to more accurate and efficient alerts while reducing employee workloads and quickly eliminating false positives; and flexible data interrogation capabilities that can analyze underlying metadata and associated information around trades and communications.

The surveillance platform is just one component of Sycamore's end-to-end compliance solution that protects businesses and their clients by: harnessing efficient online interactions and workflows to optimize supervision and anti-money laundering capabilities; helping to manage all interactions with advisors, prospects and clients while keeping data consolidated and organized; deploying tailored business rules, configurable alerts and workflows to any firm's specific supervisory or surveillance controls; and mitigating reputational, regulatory and operational risk with configurable surveillance alerts and analysis.  

"Broker-dealers need to prove to clients, stakeholders and regulators that they are effectively and comprehensively managing a variety of risks and threats at all times, and they need the right surveillance technology to do it," Overdorf said.

News of the surveillance platform follows the announcement of Sycamore's integration with Quik!, a powerful cloud app that simplifies form automation and update management. The partnership enables firms to automatically populate client forms using data from the Sycamore platform, eliminating the need for manual data entry and significantly reducing the potential for errors.

About The Sycamore Company
For far too long, broker-dealers and RIAs have accepted outdated, inefficient and disparate back-office technology platforms. The industry is long overdue for something better – much better. Sycamore is dedicated to helping firms increase efficiency, reduce risk and improve their operations by meeting the promise of data excellence and automation in an integrated, cloud-based environment. For more information, visit sycamorecompany.com.

Media Contact
Brandon Blackwell
Haven Tower
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424-317-4868

SOURCE The Sycamore Company