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Development of an All-in-One Self-Clearing Custodial Platform for RIAs

ventionteams.com

Financial services

Information technology

Challenges in RIA Custodial Services

Legacy custodial systems suffer from inefficiencies, hidden fees, poor user experience, and manual processes that delay workflows. RIAs require a modern, automated, and cost-effective self-clearing platform to handle trades without third-party dependencies while ensuring compliance and scalability.

About the Client

A full-service custodial investment platform for registered investment advisors (RIAs), offering software for account opening, trading, reporting, and billing.

Key Project Goals

Build a proprietary self-clearing system from scratch
Integrate existing systems with the new platform
Automate customer account transfers (ACAT) to reduce errors and delays
Develop technical documentation for onboarding and integration
Create a middle-office application to enhance operational efficiency

Core System Functionalities

Self-clearing platform for trade execution without third-party involvement
Automated ACAT transfers for seamless legacy system migration
Integration suite for future customer onboarding
Middle-office application for compliance and decision-making
Technical documentation for system integration and user onboarding

Technology Stack

Java

Spring Boot

Spring Security

Kafka

PostgreSQL

MySQL

DynamoDB

AWS

Docker

Kubernetes

Terraform

System Integrations

Legacy custodial systems
Third-party financial data services
Cloud infrastructure (AWS)
Compliance and reporting tools

Non-Functional Requirements

High scalability for enterprise clientele
Real-time error monitoring and performance tracking
Compliance with financial regulations (SEC, FINRA)
Low-latency trade processing
Data security and encryption (PCI-DSS, SOC 2)

Expected Business Impact

Enabling Altruist to become the industry's first all-in-one custodian, creating a new revenue stream via 'clearing as a service,' improving operational efficiency by 40%, reducing manual transfer errors by 70%, and accelerating RIA client onboarding by 50%.