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A leading integrated financial services holding company with multiple subsidiaries which taken together provide a full range of wealth management, securities brokerage and investment banking services to individuals, family businesses, corporations and institutional investors. With over sixteen hundred Financial Advisors, it ranks as the seventh largest independent full service securities firm in the United States in terms of retail registered representatives. Overall these companies employ over 3,000 people across the United States.


In early 2003 A large holding company acquired these multiple subsidaries and their parent company. The combined company nearly doubled its account base and holdings in the process. In order to serve its customers moving forward, the company needed to merge the data from two different mainframe systems, verify its integrity and produce accurate and timely statements for all of its customers. With a go live date in 6 months, schedules were tight from the start, and missing the go live date was not an option. The system needed to support the generation, printing and eWarehousing of 400,000 monthly statements, 100,000 trade confirmations and be available for both employees and clients over the internet 7 days a week.

Statement Solutions, LLC was brought in to handle the data integration, migration and output. With employees skilled in the areas of mainframe programming, custom application development and statement design and formatting an overall integration and output plan was created.

Using today's technology Statement Solutions created the database conversion tables. These were augmented with rigorous error checking algorithms and only after a triple QA inspection were they used on the production systems. Once the data was combined, integrated and verified, it was formatted for output on paper statements and for viewing on the web through a custom application using a web browser.

The system went live in 5 months. After a short transition period all the accounts were available online and the redesigned statements were having a positive effect on the client base. Customer service calls lessened and account holders had more information available to them.

Statement Solutions assigned three teams to the project. Team one focused on data normalization and validation, team two on data formatting and process automation and team three on output stream definition and oversight management. All three teams worked concurrently, but we will follow the data through the steps it took below.

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